gategroup invests in Israeli venture fund
gategroup announced today that it will 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 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,” said a release from gategroup. The investment price is undisclosed.
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.
"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.