Velocity adds three new startups to portfolio

Journey and hospitality-focused enterprise capital business, Velocity Ventures, has declared 3 new investments in travel and foodstuff and beverage (F&B) tech early-phase startups: Hong Kong-based mostly travel booking platform TripGuru, Malaysia-dependent F&B procurement and inventory administration platform Food Market Hub, and Singapore-dependent F&B consolidated opinions and evaluation platform Tablevibe.

This brings to 5 the quantity of
portfolio organizations in the fund, becoming a member of Hong
Kong-primarily based F&B SaaS platform Aigens,
and Singapore-centered hotel profits and distribution management platform Zuzu Hospitality.

“As a journey and hospitality focused fund trying to find disruptive
innovations, we are excited to be aspect of the development journey with our new
Portfolio Businesses, as the travel and hospitality marketplace thrust for far more
modern ways to be effective, adaptable and produce income.” reported Nicholas
Cocks, founder and managing partner of Velocity Ventures. 

“At the height of the pandemic,
quite a few buyers had been taking a more conservative solution in the travel tech and
hospitality place. We noticed it as an unparalleled chance to commit and make
outsized returns.

“With the COVID pushed
acceleration of digitisation and innovation and the adjustment to valuations
pushed by excessive distress in the sector we saw this as the time to guidance the
business and deploy money. And we did just that – we have invested in 5
awesome tech get started-ups.” 

The business aims to make 10 more investments in the sector over the
next 12 months. 

It has also partnered with Pear Anderson, a South-east Asian
tourism industry intelligence consultancy organization, to start a tri-weekly
newsflash which aims to present market companions a larger overview on the
shifting Covid-19 situation all-around the location.

The very first edition of the Covid-19
impression newsflash has been posted at velocityventures.vc/newsflash.