Visa application startup Atlys raises $12 million in Series A round
With Atlys, travellers can easily apply for visas through the digital platform from anywhere in the world and get their visas on time.
Online visa application platform Atlys has received $12 million in its Series A round of funding led by Peak XV Partners and Elevation Capital. Existing investors Andreessen Horowitz (a16z), South Park Commons, Pinterest founders, and other investors also participated in the round, the company said in a press release.
Atlys plans to use the funds to expand the platform's product offerings for travellers, attract customers, and further strengthen the team through talent acquisition. In 2021, the company raised $5 million in a seed round of funding.
Launched in 2021 by Mohak Nahta, Atlys is building a digital platform to make the visa process smooth. With Atlys, travellers can easily apply for visas through the digital platform from anywhere in the world and get their visas on time.
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“Our 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,” said Mohak Nahta, founder, Atlys.
“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," added Nahta.
Atlys claims that so far, 99.2 per cent visas come on time. It has also partnered with governments to facilitate visas and help them reduce overstays.
According to Atlys, over 60 per cent of countries have already adopted e-visas, and more have announced their plans to move to e-visas in the near future and the firm is at the forefront of this shift and offers a world-class experience for travellers across the globe.
Travel market in India
The Indian travel industry is expected to grow to $125 billion by FY27, up from $75 billion in FY20. The Indian airline travel industry is valued at $20 billion and is expected to more than quadruple by FY27 due to improved airport facilities and increased access to passports, according to the India Brand Equity Foundation (IBEF). However, the Indian hotel industry, encompassing domestic, inbound, and outbound travel, was estimated to be over $32 billion in FY20 and is predicted to grow to $52 billion by FY27, driven by rising traveller demand and continued efforts by travel agencies to expand the sector.