gategroup invests in venture fund Cockpit Innovation
ZURICH Glattbrugg, 16 January, 2019
Strategic investment to accelerate delivery of gategroup’s innovation goals
gategroup today announced that it is to invest in Cockpit Innovation, an Israeli-based industry venture fund that specializes in identifying new, ground-breaking innovations related to digital travel, aviation and aerospace. gategroup joins major investors and partners such as Boeing and EL AL.
Cockpit Innovation was established in 2015 in Tel Aviv, Israel’s startup center, as EL AL's hi-tech investment fund. It is the first airline industry dedicated venture fund with a mission to support and invest in innovative and disruptive technologies in digital travel, aviation and aerospace.
Driving future innovation is a strategic pillar for gategroup. The investment in Cockpit Innovation will help identify new airline and passenger needs, provide access to a number of projects and start-ups as well as shorten their introduction to market. As a result, gategroup will enhance the customer experience by providing best-in-class solutions combined with cutting edge customization.
"gategroup is constantly seeking out groundbreaking new ideas in culinary, retail onboard and technology solutions to enhance the customer experience and bring additional value to our airline customers," says gategroup’s CEO Xavier Rossinyol. "Working with Cockpit Innovation will provide unparalleled access to new consumer insights and trends, as well as to a first-class network of startups worldwide to further accelerate delivery of our innovation strategy,” adds Rossinyol.
"We look forward to working with industry-leader gategroup. Their investment, along with that of other partners, will enable Cockpit to continue expanding its portfolio and creating value for both entrepreneurs who are exposed to potential partnership with industry clients as well as our partners who gain access to industry-leading future technologies," says Cockpit CEO Henry Chen Weinstein. "Partners such as gategroup, Boeing and EL AL allow us to further position Cockpit Innovation as the industry's leading technological investment and innovation player in the travel, aviation, and aerospace fields," he adds.
The investment price is undisclosed.
gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. gategroup provides passengers with superior culinary and retail experiences, leveraging innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, gategroup deliver operational excellence through the most extensive catering network in the aviation industry, serving more than 700 million passengers annually from over 200 operating units in 60 countries/territories across all continents. In 2017, gategroup reached CHF 4.6 billion in revenues generated by approximately 43,000 employees worldwide. For further information, please visit www.gategroup.com
About Cockpit Innovation
Cockpit is an industry venture fund with the mission to support and invest in entrepreneurs with disruptive technologies in digital travel, aviation and aerospace. As part of Cockpit’s strategic partnership with EL AL and Boeing Groups, Cockpit is committed to ventures re-inventing air travel and aerospace through innovation and serves as a bridge between the startups community and leading players in the industry from all over the world. By creating unique international channels for entrepreneurs, Cockpit startups get a first-class opportunity to pilot ideas, and a chance to introduce products to Cockpit’s stakeholders and partners around the world. Cockpit’s portfolio companies receive a real opportunity for a first enterprise client, resources and strong international network, supporting startups all the way toward global deployment of their innovative ventures.
For further information please visit www.cockpitinnovation.com
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