Kenyan startup founder raises Sh582m for eco-tourism businesses

PEV says the new funding round will help it further scale its portfolio of startups and launch new ventures to address the hospitality industry’s most pressing challenges.

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A Kenyan tourism-focused start-up founder Purple Elephant Ventures (PEV) has raised $4.5 million (Sh582.8 million at current conversion rates), to help develop environment-friendly businesses in the travel industry.

The firm focuses on regenerative tourism which is a concept where visitors are required to leave their holiday destination, in a better condition than how they found it.

The concept goes beyond “not damaging” the environment and aims to actively revitalise and regenerate it, resulting in a positive cycle of impacts on local communities and economies.

PEV said the round of funding brought together investors who included Clear Creek Investment B.V, Canadian investment firm Klister Corp, Fede Pirzo-Biroli (founder of Playfair Capital), Anthony Rock, and Ian McCaig (former CEO of Lastminute.com).

“This funding milestone underscores growing confidence in African travel tech startups and their role in reshaping the African startup ecosystem through impactful innovation,” said the firm in a statement on Wednesday.

“This landmark investment will accelerate PEV’s mission to transform the continent’s tourism industry into a global leader in regenerative tourism. By building cutting-edge travel technology in Africa, PEV aims to create a resilient, inclusive, and environmentally sustainable tourism sector.”

Jointly founded by Ben Peterson, Jan Van der de Willebois, and Mikul Shah, the venture studio has expanded its portfolio in recent years, launching at least five startups that include Nomad Africa, Kijani Supplies, Zafari, PowerTrip as well as JOIN Africa.

PEV says the new funding round will help it further scale its portfolio of startups and launch new ventures to address the hospitality industry’s most pressing challenges.

Commenting on the fundraising, PEV co-founder Peterson, termed the funding a testament to the untapped potential in African tourism innovation.

“With this support, we’re poised to revolutionise the industry through groundbreaking travel technology in Africa, fostering economic growth while preserving the continent’s incredible natural and cultural heritage,” said Mr Peterson.

“The future of sustainable tourism in Africa has never been brighter.”

PEV’s mission is to lead Africa’s tourism industry to a greener future, riding on the position of the sector on the continent as the third-largest industry employing tens of millions across Africa.

The seed round comes slightly over two years after PEV raised $1 million (Sh129.5 million) at the pre-seed stage in October 2022, backed by multiple investors who included Kister Credit Corp, Fede Pirzio-Biroli, Ian McCaig, Anthony Rock, the Untours Foundation, Rich Hoops, Jim Villanueava and Helena Riese Harstad.

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