A startup from two former
Booking.com executives is making progress in its effort to create a new model
of interaction between consumers and travel suppliers using decentralized
digital identity and biometrics solutions.
NeoKe, launched
in 2022 by Vikas Bhola and Sebastian Honores and a PhocusWire Hot 25
Travel Startup for 2023, has secured its first round of funding - €1.3
million led by Dreamcraft Ventures with participation from ff Venture Capital,
Gharage and Plug & Play.
NeoKe uses blockchain and cloud-based
technologies and won Microsoft’s “Identity for All” hackathon last year.
The company recently launched two products – NeoKe Wallet, which allows travelers
to securely store and share their personal data with suppliers as needed, and
NeoKe Connect, an identity management and automation platform for travel
providers.
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Used in tandem, the company says
these products create a frictionless, connected experience, enabling travelers
to create a single profile that can be used for password-less logins, identity
verification, check-in and boarding pass automation and more – in a secure
environment that makes individuals the sole owner of their information.
“Where
we want to go with digital identity platform is to empower businesses to have a
wallet capability with plug-and-play integration, making it easier for people
to travel while still being in control of their data and for the businesses to
understand the traveler and their needs to create personalized experiences,”
Bhola said.
“We truly intend to transform the narrative
from ‘owning the customer’ to ‘owning the relationship,’ which creates trust
and loyalty between the traveler and the brand.”
NeoKe is building its technology
on interoperable standards so it can easily scale. Bhola said NeoKe is doing a
variety of pilots and proofs-of-concept with online travel agencies, hotel
chains, airlines and destinations and expects to announce more details about
these in the coming months.
In addition to continuing to
develop its digital identity platform, Bhola said early next year NeoKe will
work with an airline to test its “Orchestration Engine” - a tool to help travel
providers offer ancillary products personalized to the customer’s digital
identity.
“Data breaches are happening
at an increasing pace, and there are clear regulatory tailwinds pushing
companies to become better stewards of data, and consumers want to regain
control over their information,” said Kenneth Dambo, principal at Dreamcraft
Ventures.
“The travel use case is the
perfect testing ground for a solution given the high friction, sensitive
information and regulatory requirements involved. The potential of NeoKe's
technology is huge, and we're excited to see the impact it will have on the
travel industry.”
Executives with NeoKe spoke about their company at the Phocuswright Innovation Summit in 2022. Watch a video of their presentation below.
NeoKe - Phocuswright Innovation: Summit 2022