TravelTech Startup Teleport Raises USD 500K in Pre-Seed Round
TravelTech startup 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 utilised to further develop Teleport’s cutting-edge technology, assemble a dynamic team, and drive effective distribution strategies.
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 platform targets to process 1,00,000 visas within 2023.