Tourism startup builder, Purple Elephant Ventures (PEV), based in Kenya, has raised $1 million in pre-seed funding.
According to Techpoint Africa Digest, the investors include Klister Credit Corp, Untours Foundation, Fede Pirzio-Biroli, Ian McCaig, Anthony Rock, Rich Hoops, Jim Villanueva, and Helena Riese Harstad.
In return, the investors get equity, and PEV says that it plans to use the funds to build more startups in the tourism industry that leverage tech to modernise their offerings. It has about 14 people on its team, including Ludovica Fioravanti, an associate venture builder who has led several projects like PR, social media, and corporate communications for Dolce&Gabbana and De Beers.
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Purple Elephant Ventures offers a booking service called Elephant Bookings and a content-to-commerce magazine service named Nomad Africa. It has also built two other startups, such as:
— Nomad Travel Club, a service that provides weekly emails with a curated selection of the best trips, experiences, and discounts.
— Wavel, a service that helps clients find high-end & environmentally friendly vacation properties where they can work comfortably from.
The venture also mentions on its website that it had some other startups that failed, such as Distressed Debt Fund, Anthill Services, and OTA Acquisition.
African tourism industry is expected to reach $279 billion and create about 14 million new jobs within a decade, according to the World Travel & Tourism Council (WTTC). So, it makes sense for PEV to establish itself as an industry leader early.
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