Kenya’s startup studio Purple Elephant Ventures (PEV) has received $4.5 million in seed funding to push forward its mission to transform Africa’s tourism industry.
Purple Elephant Ventures aims to make Africa a leading player in regenerative tourism, focused on creating a travel sector that is sustainable and inclusive through “cutting-edge” technology. It hopes to boost biodiversity and reduce ecological footprint of travel.
The seed funding round included investments from Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (founder of Playfair Capital), Ian McCaig (former CEO of Lastminute.com) and Anthony Rock.
“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.”
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PEV is working to create hospitality software-as-a-service solutions as well as energy efficient solutions, among others. It has launched five startups including Nomad Africa, a travel discover platform that focuses on eco-friendly supplies; Zafari, a booking platform; PowerTrip, a technology company that provides energy efficient appliances; and JOIN Africa, which was created with Kayak co-founder Paul English and provides support to safari guides.
The studio previously received funding from UnTours’ 2023-launched Reset Tourism Fund, which sought to "identify those entrepreneurs whose businesses best represent a better future of tourism."
In years past, Africa’s travel startup landscape was a bit bare. Peterson told PhocusWire in 2022 that the environment was “lonely in a way,” with little funding for travel technology.
But the situation is evolving. Africa is positioned to see a rise in travel in the coming years thanks to a growing population and despite obstacles (including funding), its online travel sector is growing.