Cockpit Innovations is teaming up with Lufthansa Systems - the technology arm of the German airline - to "identify and cultivate" new technologies in the aviation and travel spheres.
The strategic joint venture between the German carrier group and the venture arm of El Al Airlines will allow the two companies to not only partner with appropriate startups, but to also connect them to leading airlines.
In return, Cockpit Innovations will provide the funding for said startups to further develop their technologies.
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"The core of our company strategy is to put airlines in a perfect position for the digital future," says Stefan Auerbach, CEO at Lufthansa Systems, about the new partnership.
"Together, we will become true sources of potential and inspiration for innovative ideas."
Cockpit Innovations was originally founded in 2015 to serve as the scouting arm for El Al Airlines, to form strategic partnerships with companies and invest resources into technology development.
Over the years, it has invested in such companies as Bidflyer and 30secondstofly.
Recently, Cockpit Innovations became a second-round lead investor in AeroCRS, which raised approximately $285,000 in its initial investment round.