Atlys, a leading visa processing platform, recently secured $20 million in its Series B funding round, co-led by Peak XV Partners (formerly Sequoia Capital India) and Elevation Capital. This funding marks a significant milestone for Atlys, as the company has experienced rapid growth of 20x over the past year. The platform has expanded its presence in key global markets such as the US, UAE, and the UK, and bolstered its leadership team with top-tier hires in product, engineering, and marketing.
The new capital injection will fuel Atlys’ aggressive expansion strategy, enabling the company to enhance its product and engineering capabilities, enter new markets, and grow its global operations. With a primary focus on meeting the increasing demands of travellers, particularly in India and the UAE, where international tourism is thriving, Atlys aims to provide seamless visa processing services. The UAE has emerged as Atlys’s second-largest market after India, serving over 100 countries from the UAE and establishing an office in western Dubai to support its expanding customer base.
Mohak Nahta, Founder and CEO of Atlys, emphasized the company’s extraordinary growth over the past year and highlighted the importance of ensuring travellers can obtain their visas on time. In a world where outbound tourism is booming, the need for a smooth and efficient visa process is more critical than ever. Atlys aims to eliminate border restrictions and make exploration more accessible to all travellers globally.
With global outbound international tourism reaching 1.3 billion in 2023, Atlys plans to leverage cutting-edge automation to streamline visa applications for over 150 destinations. By reducing rejections and processing times to as fast as 55 seconds, Atlys is set to revolutionize the visa processing industry. Shraeyansh Thakur, Principal at Peak XV, believes that Atlys has the potential to become a broader travel services platform catering to various use cases for travellers worldwide, showcasing the strong partnership between Peak XV and Atlys.
Mayank Khanduja, Partner at Elevation Capital, lauded Atlys as one of the most innovative products in the travel space, emphasizing the value they bring to global travellers and their long-term vision for seamless travel. The recent funding round serves as a testament to the progress Atlys has made and highlights the support from investors as they continue to expand into new markets and redefine the travel industry. With previous funding rounds from reputable partners like Peak XV, Elevation Capital, Andreessen Horowitz, and South Park Commons, Atlys is well-positioned for further growth and success in the travel sector.
