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