Bengaluru-based Netcon Technologies, an IT infrastructure company, has made a strategic investment in Nikitek, a Pune-based tech startup working in the travel ecosystem.
This deal sparks from the aim of bringing about digital transformation in the passenger travel ecosystem, including baggage handling, and promoting digitally enabled and eco-friendly travel experiences, said the company.
The investment was made through a Netcon Group subsidiary, but the amount was undisclosed.
Nikitek plans to use the capital for technology enhancements, go-to-market plans, and value-added services integrations. The investment is expected to accelerate the market entry plans for the product.
“Our strategic investment in Nikitek marks a significant stride in making air travel more accessible, sustainable and efficient,” said Mahalingam Ramasamy, Founder & Managing Director of Netcon Technologies.
“Through this ingenious technology, we will transform baggage handling into a hassle-free experience for both passengers, airlines and airports while advancing our net zero carbon goals and solidifying our position as a leader in aviation solutions,” he added.
Vinod Philips, Founder and CEO of Nikitek, said, “Our shared vision of driving innovation and sustainability in airline operations is set to deliver a future of seamless, digitally enhanced and eco-friendly travel experiences.”
The investment agreement was signed by Ramasamy and Philips on April 9 at Netcon’s Bengaluru headquarters.
“The future of aviation is digital, sustainable and hyper-personalized. Our partnership with Nikitek will unlock a new era of seamless travel, where technology empowers passengers, airlines and airports to work in perfect harmony. This is just the beginning of our shared mission to redefine the travel experience for generations to come,” said Mohamed Ashiq, CEO of Netcon Technologies.
The strategic advisors to the transaction are the investment banking team from Zaikenn Technologies and Sujeet Mukherjee from 99 Million Partners.
Nikitek has also designed and developed what it claims to be India’s first electronic baggage tag–godigitag–a digital technology solution that replaces the paper bag tag with an eco-friendly digital bag tag.
Edited by Swetha Kannan
