January 21 2019  |  Airlines & Airports

gategroup invests in digital travel venture fund

By Mary Jane Pittilla

gategroup, the leading airline catering and retail-on-board company, is to invest in Cockpit Innovation, an 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 Israel Airlines.

Cockpit Innovation was established in 2015 in Tel Aviv, Israel’s start-up 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.

gategroup said the investment in Cockpit Innovation would 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 said it would enhance the customer experience by providing best-in-class solutions combined with cutting-edge customization.

"gategroup is constantly seeking out ground-breaking new ideas in culinary, retail onboard and technology solutions to enhance the customer experience and bring additional value to our airline customers," said 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 start-ups worldwide to further accelerate delivery of our innovation strategy,” he added.

Said 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.”

The investment price is undisclosed.

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