The round was led by Borderless Capital, which closed last November. Other investors participating in the round from the travel, technology and blockchain verticals included Algorand, Draper Cygnus, Myelin Capital and Monday Capital. TravelX was founded by a group of industry veterans to accelerate the evolution and growth of a more dynamic and frictionless industry using blockchain technology.

TravelX is building a blockchain-based distribution protocol designed to create a more secure, decentralized, frictionless, transparent and efficient travel industry. The company's technology allows travel suppliers to more efficiently manage their inventory, unleashing use cases that enhance both travelers' flexibility and suppliers' profitability.