Grace Ashiru
Purple Elephant Ventures (PEV), recognized as the “world’s first tourism-focused venture studio,” has successfully secured $4.5 million in seed funding. Based in Nairobi, the venture studio plans to utilize this capital to expand its portfolio of startups and launch new ventures aimed at tackling some of the most critical challenges in Africa’s tourism sector.
The funding round attracted notable investors, including Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (the founder of Playfair Capital), Anthony Rock, and Ian McCaig (the former CEO of Lastminute.com).
PEV joins a growing number of venture studios providing seed funding, strategic direction, and mentorship to support startups across the African continent. Other notable studios in this space include Fast Forward Venture Studio, Grone Studios, Ceed Cap, and First Founder.
Founded in 2020, PEV is dedicated to helping entrepreneurs create innovative solutions in the hospitality sector. The venture studio focuses on crafting Software as a Service (SaaS) platforms, promoting sustainable procurement in tourism, and delivering energy-efficient innovations tailored for hospitality businesses.
So far, PEV has successfully launched five distinct startups. Among them is Nomad Africa, a travel discovery platform that also serves as Kenya’s premier travel publisher and local agency. Kijani Supplies stands out as a procurement technology company specializing in eco-friendly products for the hospitality industry. Zafari is a booking platform revolutionizing operations for African tourism operators. PowerTrip delivers energy-efficient appliances specifically designed for hospitality businesses. JOIN Africa, developed in partnership with Paul English, co-founder of Kayak, is a startup aimed at supporting safari guides.
Reflecting on the success, PEV’s co-founder and CEO, Ben Peterson, remarked, “This funding underscores the immense, untapped potential of African tourism innovation. With this support, we are positioned to transform the industry through pioneering travel technology in Africa, driving economic growth while safeguarding the continent’s extraordinary natural and cultural treasures. The outlook for sustainable tourism across Africa has never been more promising.”
