Blockchain-based Distribution Protocol TravelX Raises $10m in Seed Round

TravelX, a company focused on using blockchain technology for distribution in the travel industry, has raised $10 million in a seed round led by Borderless Capital.

The new funding raised will be used for a blockchain-based distribution protocol that the company will launch later this year. The protocol price allows airlines of all kinds and travel suppliers to tokenize inventory and create new distribution models and new use cases.

Other investors include Algorand, Draper Cygnus, Myelin Capital and Monday Capital.

Juan Pablo Lafosse, CEO of TravelX, said he is excited to be building a blockchain-enabled solution that "will help suppliers and intermediaries enhance efficiency and profitability, while also improving the traveller experience," he added:

"Friction and inefficiency continue to be pervasive in travel distribution, and the challenges related to the pandemic have increased the imperative for change."

Founded in 2021, TravelX is a startup promoting travel and Web3 and connecting travel and Decentralized Finance (DeFi).

Customers can also change, cancel, transfer and sell tokenized inventory more quickly and conveniently, creating a win-win picture of increased traveller flexibility and supplier profitability.

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