NEW DELHI--(BUSINESS WIRE)--Sep 20, 2023--
Atlys has raised USD 12 million in a Series A round led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. The round also saw participation from existing investors Andreessen Horowitz (a16z), Musical Duo Chainsmokers, South Park Commons, Pinterest Founders and other investors.
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Mohak Nahta, Founder, Atlys (Photo: Business Wire)
The funds raised will be used to expand the platform’s product offerings for travellers, attract customers, and further strengthen the team through talent acquisition. Atlys had previously raised a USD 5 million seed round in 2021.
The world is rapidly moving towards e-visas. Over 60% of countries have already adopted e-visas, and more have announced their plans to move to e-visas in the near future. Atlys is at the forefront of this shift and offers a world-class experience for travellers across the globe. With Atlys, travellers can easily apply for visas through the digital platform from anywhere in the world and get their visas on time.
As an avid traveller himself, Mohak Nahta, founder of Atlys, found the visa process to be tedious, uncertain and not at all traveller-friendly. He realised that the solution had to be digital and set out to build an app, which led to the launch of Atlys.
“O ur USP is to transform a process riddled with anxiety into one with certainty. By leveraging over a million data points, we’re able to predict when you’re going to get a visa, reduce visa rejection rates, and we have built the tech to make that happen,” saidMohak Nahta, founder, Atlys.
He added, “ We believe every Indian should have the opportunity to travel anywhere without the burden of complex visa processes. Atlys can help Indians get visas on time to over 100 countries and has reduced the time for applying for a visa to under three minutes.”
Atlys aims to eliminate uncertainty, lengthy documentation and high visa fees by providing a simplified solution for visa applications. The traveller-centric solution provides a visa guarantee within a promised window through its app and website. So far, 99.2% visas come on time. It has also partnered with governments to facilitate visas and help them reduce overstays.
“Travel is a fast-growing category in India that is seeing strong tailwinds post Covid. Over 10 million new passports are being issued in India every year, adding materially to the base of travel aspirants from India. Visa is a critical pain point for travellers and Atlys is building a next-gen platform to transform visa applications for travellers globally and reimagine international travel. We’re very excited to join Mohak and team on their mission to enable travellers across the globe to travel with more freedom,” saidShraeyansh Thakur, Principal, Peak XV.
“Atlys' commitment to removing visa-related barriers aligns with the growing aspirations of Indians to explore the world. We're excited to join Atlys on its mission to transform the visa application process and solve larger travel-related pain points in India. Our partnership with Mohak represents a significant step towards Atlys' efforts to streamline global mobility. Their strategy to offer a new age visa service that's economical, risk-free and data-driven will encourage quicker adoption of newer, more efficient procedures," saidMayank Khanduja, Partner, Elevation Capital.
In addition to visas, Atlys’ goal is to solve numerous other pain points that people face with international travel. This includes areas like credit for travel, remittance and travel insurance.
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SOURCE: Atlys
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PUB: 09/20/2023 09:00 PM/DISC: 09/20/2023 09:00 PM
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