Nairobi-based tourism-focused venture studio Purple Elephant Ventures (PEV) has raised US$4.5 million in seed financing to accelerate its mission to transform the continent into a global leader in regenerative tourism by building cutting-edge travel technology.
Founded by CEO Ben Peterson, previously senior partner at AHL Venture Partners; Jan Van der de Willebois, a former investment banker at Dyer & Blair; and serial entrepreneur Mikul Shah, founder of EatOut Africa, PEV aims to launch three or four startups each year.
The goal is to lead Africa’s tourism industry towards a greener future, with PEV startups typically scalable, tech-first solutions that supercharge urgent efforts to make Africa’s tourism industry more resilient and more sustainable in the face of climate change.
PEV raised a US$1 million pre-seed round in October 2022, and has now followed up with a US$4.5 million seed that features Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (founder of Playfair Capital), Anthony Rock, and Ian McCaig (former CEO of Lastminute.com).
In just a few years, PEV has launched five high-impact startups, each addressing critical gaps in the hospitality ecosystem. They are Nomad Africa, Kijani Supplies, Zafari, PowerTrip, and JOIN Africa. Unlike traditional venture studios, PEV retains control of and self-funds its startups, ensuring alignment with its long-term mission to advance tourism innovation funding and deliver transformative impact across Africa.
The US$4.5 million will enable PEV to scale its portfolio of startups and launch new ventures focused on addressing the industry’s most pressing challenges.
“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 revolutionise 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.”
