TravelTech Startup Teleport Raises USD 500K in Pre-Seed Round
TravelTech startup dedicated to
simplifying the complex world of travel visas Teleport, has announced
the successful closure of its Pre-Seed Round, securing a substantial USD
500,000 in equity funding, adding to the USD 100,000 grant it received from
PeakXV (Sequoia) Spark program in early 2023. The funding will be instrumental
in fuelling Teleport’s mission to ensure hassle-free travel visas and
revolutionize the way people experience cross-border travel.
Esteemed investors, including
entrepreneur Kunal Shah, Vidit Aatrey, Kishore Ganji, Appreciate Capital, Superb
Capital, 888vc, and FAAD network, have rallied behind Teleport's far-reaching
vision. This first and sole capital injection, will be strategically utilized
to further develop Teleport’s cutting-edge technology, assemble a dynamic team,
and drive effective distribution strategies.
Armed with a CA degree and a MBA from
INSEAD, Founder and CEO, Nikita Dresswala, built conviction for the idea of her
startup while crossing the border from Thailand to Cambodia to Vietnam on a
three-week cycling journey across Southeast Asia. Her experiences during her
cycling journey through Southeast Asia, coupled with her own struggles in
obtaining visas, led her to identify a pain point that many travellers face:
the complex and often frustrating visa application process. This realization
laid the foundation for Teleport. Teleport empowers travellers with a
streamlined visa application process that features automated flows, easy guided
steps, and data-led decisions to maximize visa approval rates. Teleport is also
the trusted choice for over 100 travel agents and travel companies,
facilitating seamless visa processing for their businesses
Nikita Dresswala, Founder of Teleport, expressed her
gratitude for the unwavering support of the investors, stating, “Travel
visas have always been stressful and time consuming for international
travellers. At Teleport, we are on a mission to simplify the process and make
it anxiety free using technology. We are super grateful to have a bunch
of incredibly supportive investors and mentors onboard at Teleport, guiding us
on our goal to make travel borderless.”
“For many Indians, the excitement of
traveling abroad often gets overshadowed by tedious visa formalities. It's
clear that amidst these bureaucratic challenges, there lies a significant
opportunity to craft a service grounded in trust and understanding for Indian
travellers. Nikita is a sharp operator, and just the person to lead this
change. We are glad to have recognized her potential early on and are backing
her and Teleport wholeheartedly” said Abhishek Agarwal - Partner at
Appreciate Capital.
The larger vision is to make travel
borderless for Indians. Teleport wants to ensure that every time you’re
travelling to a new country, you travel like you belong to that place, and the
starting point for that is removing anxiety around travel visas. Over a period
of time, Teleport will solve for other travel infrastructure products including
insurance, forex, and e-SIMs.
The platform targets to process
1,00,000 visas within the year 2023.
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