Travizory Border Security SA, the Swiss-based leader in AI-powered border control technology, has successfully concluded its latest round of funding. The 2019-founded SaaS company isn’t disclosing its valuation for this raise.
Travizory is a pioneer in digitalizing border control, with solutions designed to enable secure travel without the need for physical passports. Their vision has garnered substantial backing from industry heavyweights, including UK-based venture capital firm BACKED, known for their “human-centric” approach to investment.
This recent funding represents a pivotal moment in Travizory’s trajectory, coinciding with the launch of multiple new partnerships slated for Q1 2024. With successful implementations across East Africa, the Indian Ocean, Asia-Pacific, and South America, Travizory intends to leverage this investment to scale its border security platforms and expand its global footprint.
Notably, the Government of Seychelles has been utilizing Travizory’s comprehensive modular border security portfolio since 2020. The implementation of electronic Travel Authorization, Advance Passenger Information systems, and facial biometrics at Seychelles Airport resulted in an 84% reduction in passenger processing times. The introduction of a biometric corridor, capable of processing over 30 passengers per minute upon entry, resulted in Seychelles International Airport’s attainment of Level 1 ACI Accreditation for the first time in its history.
Andre de Haes, co-founder and Managing Director of BACKED, lauded Travizory’s software platform, praising its capacity to enhance border security while minimizing disruptions: “Travizory’s bold vision coupled with the expertise of its team has created a unique platform that has the potential to be transformational for international travel. The interest from potential customers is impressive and we are confident that Travizory will significantly expand its global presence in the coming year”.
Renaud Irminger, co-founder, and CEO of Travizory Border Security, expressed immense pride in the successful completion of this growth funding round, highlighting a fivefold increase in company valuation compared to the previous round.
“We are honored to have the support of an esteemed group of investors, some of whom have been long-term partners since our inception in 2019,” said Irminger. “The addition of BACKED to this group is particularly exciting, and we eagerly anticipate collaborating with Andre and the team. Travizory is unwavering in its commitment to a singular objective: eliminating queues and paper-based processes at border crossings while exponentially enhancing security for our government partners.”
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