US$193,780,000+
*Data updated daily at 18:00 EAT
Nairobi-based venture studio Purple Elephant Ventures (PEV) has raised USD 4.5 M in seed financing, marking one of the largest tourism-tech funding rounds in Africa. The round was backed by notable investors, including Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (Playfair Capital founder), and former Lastminute.com CEO Ian McCaig.
This funding will propel PEV’s mission to transform Africa’s tourism industry into a global leader in regenerative tourism. Through its innovative venture studio model, PEV is building cutting-edge travel technology to foster a sustainable, inclusive, and resilient tourism ecosystem across the continent.
“This funding is a testament to the untapped potential in African tourism innovation,” said Ben Peterson, Co-Founder and CEO of PEV. “We’re committed to creating groundbreaking solutions that boost economic growth, protect biodiversity, and preserve Africa’s cultural heritage. The future of sustainable tourism in Africa has never been brighter.”
PEV has already launched five high-impact startups addressing critical gaps in the hospitality ecosystem:
With this USD 4.5 M boost, PEV aims to scale its portfolio and launch new ventures, setting a new standard for regenerative tourism in Africa while reshaping the continent’s travel tech landscape.