Travel and hospitality-focused undertaking cash company, Velocity Ventures, has announced three new investments in vacation and foods and beverage (F&B) tech early-stage startups: Hong Kong-based mostly vacation scheduling platform TripGuru, Malaysia-primarily based F&B procurement and stock administration platform Food Sector Hub, and Singapore-centered F&B consolidated feedback and assessment platform Tablevibe.
This delivers to five the range of portfolio organizations in the fund, becoming a member of Hong Kong-dependent F&B SaaS platform Aigens, and Singapore-dependent lodge profits and distribution administration platform ZUZU Hospitality.
“As a vacation and hospitality targeted fund looking for disruptive
improvements, we are psyched to be aspect of the expansion journey with our new
Portfolio Companies, as the journey and hospitality marketplace force for extra
impressive ways to be productive, adaptable and deliver income.” stated Nicholas
Cocks, founder and running partner of Velocity Ventures.
“At the top of the pandemic,
several buyers had been having a more conservative approach in the journey tech and
hospitality area. We saw it as an unprecedented chance to commit and receive
“With the Covid driven acceleration of digitisation and innovation and the adjustment to valuations driven by severe distress in the sector we observed this as the time to assistance the business and deploy capital. And we did just that – we have invested in 5 amazing tech start-ups.”
The firm aims to make 10 more investments in the sector more than the
upcoming 12 months.
It has also partnered with Pear Anderson, a South-east Asian
tourism business intelligence consultancy agency, to launch a tri-weekly
newsflash which aims to supply sector associates a higher overview on the
changing Covid-19 problem close to the location.
The initial edition of the Covid-19 impact newsflash has been released at velocityventures.vc/newsflash.