6 months ago
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- Last updated September 24, 2024
- In AI News
The Mumbai-based startup is leveraging AI for visa evaluation, improving transparency in visa approvals.
Atlys, a leading platform for visa processing, has secured $20 million in its Series B funding round, co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. The funding round saw participation from existing investors and new backers, including DST Global and Headline. This latest capital injection will support Atlys’ rapid growth and expansion into new markets, with a focus on enhancing its product and engineering capabilities.
Atlys is leveraging advanced automation to simplify visa applications for over 150 destinations, reducing rejection rates and cutting processing times to as little as 55 seconds. The platform offers a user-friendly interface coupled with robust data encryption, ensuring both security and convenience for global travellers.
The company’s rise has been marked by significant achievements, including a 20x growth in the past year. Atlys has established its presence in key global markets such as the US, UAE, and the UK, while bolstering its leadership team with hires in product, engineering, and marketing.
Rapid Expansion
“Atlys has seen extraordinary 20x growth over the last 12 months,” said Mohak Nahta, founder and CEO of Atlys. “This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time. As India’s outbound tourism surges, the need for a seamless, on-time visa process is more critical than ever. We are one step closer to a world where borders no longer restrict exploration.”
With the new funding, the company aims to aggressively scale operations globally, focusing particularly on meeting the growing needs of travellers in India, where international tourism is on the rise.
Shraeyansh Thakur, Principal at Peak XV, expressed optimism about Atlys’ future, stating, “Travel continues to see strong tailwinds globally and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally.”
Founded in 2021, Atlys simplifies visa processing, empowering travellers to navigate visa applications efficiently. With this new round of funding, the company is well-positioned to accelerate its global growth and redefine the future of travel.
Vandana Nair
As a rare blend of engineering, MBA, and journalism degree, Vandana Nair brings a unique combination of technical know-how, business acumen, and storytelling skills to the table. Her insatiable curiosity for all things startups, businesses, and AI technologies ensures that there's always a fresh and insightful perspective to her reporting.
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