SINGAPORE, 12 DEC 2021 – Velocity Ventures, Southeast Asia’s leading venture capital firm focused on technology innovations in travel and hospitality, announced three new investments in travel and food and beverage (F&B) tech early-stage startups: Hong-kong based travel booking platform TripGuru, Malaysia-based F&B procurement and inventory management platform Food Market Hub, and Singapore-based F&B consolidated feedback and review platform Tablevibe.
The new additions bring the venture capital’s portfolio to five in a short span of 12 months, joining Hong Kong-based F&B SaaS platform Aigens, and Singapore-based hotel revenue and distribution management platform Zuzu Hospitality, making Velocity Ventures the most proactive venture capital firm in the travel and hospitality tech space across the Southeast Asia region.
“As a travel and hospitality focused fund seeking disruptive innovations, we are excited to be part of the growth journey with our new Portfolio Companies, as the travel and hospitality industry push for more innovative ways to be productive, flexible and generate revenue.” said Nicholas Cocks, Founder and Managing Partner of Velocity Ventures.
He continues, “At the height of the pandemic, many investors were taking a more conservative approach in the travel tech and hospitality space. We saw it as an unprecedented opportunity to invest and earn outsized returns. With the COVID driven acceleration of digitisation and innovation and the adjustment to valuations driven by extreme distress in the sector we saw this as the time to support the industry and deploy capital. And we did just that – we have invested in 5 amazing tech start-ups.”
The firm also aims to make ten additional investments in the sector over the next 12 months.