Purple Elephant Ventures (PEV), a Nairobi-based venture studio, has raised $4.5 million in seed financing, marking one of the largest tourism-tech rounds in African history. This landmark investment will accelerate PEV’s mission to transform the continent’s tourism industry into a global leader in regenerative tourism. By building cutting-edge travel technology in Africa, PEV aims to create a resilient, inclusive, and environmentally sustainable tourism sector.
The round drew an impressive roster of investors, including Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (founder of Playfair Capital), Anthony Rock and Ian McCaig (former CEO of Lastminute.com). This funding milestone underscores growing confidence in African travel tech startups and their role in reshaping the African startup ecosystem through impactful innovation.
Emerging from the pandemic with a bold vision, PEV is focused on fostering tourism innovation that boosts biodiversity, creates sustainable livelihoods for local communities, and reduces the ecological footprint of travel.
Unlike traditional venture studios, PEV retains control and self-funds its startups, ensuring alignment with its long-term mission to advance tourism innovation funding and deliver transformative impact across Africa.
“This funding is a testament to the untapped potential in African tourism innovation,” said Ben Peterson, Co-Founder and CEO of Purple Elephant Ventures. “With this support, we’re poised to revolutionize the industry through groundbreaking travel technology in Africa, fostering economic growth while preserving the continent’s incredible natural and cultural heritage. The future of sustainable tourism in Africa has never been brighter.”
The $4.5 million will enable PEV to scale its portfolio of startups and launch new ventures focused on addressing the industry’s most pressing challenges. As a pioneer in venture capital for tourism tech, PEV is paving the way for a thriving, regenerative, and technologically advanced African tourism ecosystem
Source:
www.appsafrica.com
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