TravelX Raises $10M to Launch Multichain Distribution Protocol

The protocol for the travel industry tokenizes inventory for airlines and suppliers.

AccessTimeIconMar 15, 2022 at 1:00 p.m. UTC
Updated Mar 15, 2022 at 2:57 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Brandy covers crypto-related venture capital deals for CoinDesk.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

TravelX, which is building a blockchain-based distribution protocol for the travel industry, announced a $10 million seed funding round led by Borderless Capital.

  • The funding will go toward expanding the TravelX team and marketing the launch of its first product later this year, TravelX CEO Juan Pablo Lafosse told CoinDesk.
  • Other participants in the round, which closed in November, included Algorand, Draper Cygnus, Myelin Capital and Monday Capital.
  • Founded in 2021, TravelX is developing a distribution protocol that allows airlines and travel suppliers to tokenize their inventory and distribute it to different channels for new methods of distribution and use cases.
  • The company says travelers will benefit from point-of-sale advantages such as easier travel changes, cancellations, transfer and sales of tokenized inventory.
  • The multi-chain protocol is on Ethereum, Polygon and Algorand, with plans to add Solana in the future, TravelX co-founder Facundo Diaz told CoinDesk.
  • “Blockchain technology introduces disruptive new value propositions and sources of efficiency for both suppliers and consumers of the travel industry. I am aligned with this team’s mission of bringing the industry into the new distributed world and excited to work with these experienced airline and travel executives,” Barney Harford, TravelX advisor and former CEO of travel company Orbitz Worldwide, said in a press release.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.