Purple Elephant Ventures (PEV), a venture studio dedicated to tourism innovation based in Nairobi has successfully raised $4.5 million in seed funding. The funds will be used to expand its portfolio of startups and develop new ventures, addressing key challenges in Africa’s tourism industry.
The funding round drew investments from notable entities and individuals, 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).
PEV which was founded in 2020, focuses on creating innovative solutions to drive sustainable growth in Africa’s tourism industry. It offers resources like seed funding, strategic guidance, and mentorship to help startups scale. The venture studio is part of a burgeoning network of studios across the continent, such as Fast Forward Venture Studio, Grone Studios, Ceed Cap, and First Founders.
PEV has successfully launched five startups, each addressing unique aspects of the tourism and hospitality sector which are:
- Nomad Africa: A travel discovery platform and one of Kenya’s leading travel publishers and local agencies.
- Kijani Supplies: A procurement tech company providing eco-friendly solutions for the hospitality industry.
- Zafari: A booking platform designed to streamline operations for African hospitality businesses.
- PowerTrip: A cleantech company delivering energy-efficient appliances tailored for the hospitality sector.
- JOIN Africa: A platform supporting safari guides, developed in collaboration with Paul English, co-founder of Kayak.
PEV’s co-founder and CEO, Ben Peterson said “This funding emphasizes the immense potential in African tourism innovation,”. He also stated “With this support, we are set to revolutionize the industry through transformative travel technologies, fostering economic growth while preserving Africa’s natural and cultural heritage. The future of sustainable tourism in Africa has never been brighter.”
