TravelX raises $10 million in a seed funding round led by Borderless Capital.
- The Web3 startup closed its seed round in November which attracted investors from the travel, technology and blockchain verticals, including Algorand, Draper Cygnus, Myelin Capital and Monday Capital.
- Backed by industry veterans, TravelX intends to accelerate the evolution and growth of a more dynamic and frictionless industry using blockchain technology.
- Juan Pablo Lafosse, CEO of TravelX, pointed out that the Friction and inefficiency continue to be pervasive in travel distribution, and the challenges related to the pandemic have increased the imperative for change.
- “TravelX will help suppliers and intermediaries enhance efficiency and profitability, while also improving the traveler experience,” said Juan. Juan Pablo believes Web3 will totally change the travel industry.
- According to the company, TravelX allows airlines and travel suppliers to tokenize inventory, creating new modes of distribution and new use cases. Travelers will benefit with easier changes, cancellations, transfers and sales of tokenized inventory in a simpler, more streamlined manner.
- “Blockchain technology introduces disruptive new value propositions and sources of efficiency for both suppliers and consumers of the travel industry,” said Barney Harford, TravelX advisor and former CEO of Orbitz Worldwide.
- Launched in 2021, TravelX aims to reimagine the travel industry and accelerate its response and adaptation to Web3, as well as connect travel and decentralized finance (DeFi).
- TravelX is planning to launch its first service later this year.
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