Purple Elephant Ventures (PEV) Raises $500,000 to Support Tourism Future

Nairobi-based tourism-focused venture studio Purple Elephant Ventures (PEV) has successfully secured an additional $500,000 in funding, raising its total seed round to $5 million. This latest investment comes from Alphatron, a Dutch single-family office under the Alphatron Group.

Founded by Ben Peterson, former CEO of AHL Venture Partners; Jan Van der de Willebois, a former investment banker at Dyer & Blair; and Mikul Shah, the founder of EatOut Africa, PEV aims to launch three to four startups each year. The studio is dedicated to supporting sustainable tourism initiatives across Africa by leveraging technology to enhance the industry's resilience and environmental responsibility.

PEV previously raised $1 million in a pre-seed round in October 2022, followed by a $4.5 million seed round in January 2023, with backing from notable 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). The recent investment from Alphatron further solidifies PEV's position as a significant player in tourism-focused venture building.

In a statement, Ben Peterson emphasized that Alphatron's investment will reinforce PEV's vision of integrating technology into tourism while ensuring sustainability and inclusivity. "We are excited to partner with investors who share our commitment to transforming the tourism landscape through innovative and responsible practices," he noted.

Floris de Kort, director of the Alphatron Group, highlighted PEV's unique balance of innovation and environmental responsibility as a crucial factor in their investment decision.

Since its inception, Purple Elephant Ventures has launched five startups—Nomad Africa, Kijani Supplies, Zafari, PowerTrip, and JOIN Africa—each effectively addressing specific needs within the tourism and hospitality sector.

Unlike traditional venture studios, PEV retains control and self-funds its startups, ensuring alignment with its long-term commitment to driving tourism innovation and sustainability.

As PEV continues to expand its portfolio, the venture studio is poised to make significant contributions to the growth of sustainable tourism across Africa, paving the way for a more resilient and environmentally friendly industry.

Source: Startup Lagos