Traveltech Startup Teleport Raises $500,000 In Pre-Seed Funding The capital infusion will be utilized to further develop Teleport's cutting-edge technology, assemble a dynamic team, and drive effective distribution strategies
By Teena Jose •
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Traveltech startup Teleport has announced the closure of its pre-Seed funding round, securing a substantial $500,000 in equity funding, adding to the $100,000 grant it received from PeakXV (Sequoia) Spark program in early 2023. As per the platform, 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.
It also said, this capital infusion will be strategically utilized to further develop Teleport's cutting-edge technology, assemble a dynamic team, and drive effective distribution strategies.
"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," said Nikita Dresswala, founder, 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. The company said it targets to process 1,00,000 visas within the year 2023.
"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, Appreciate Capital.
