InMotion invests in travel platform WeTrip
London based Jaguar Land Rover’s venture capital fund InMotion Ventures has announced seed investment in WeTrip, the digital platform for group holiday planning and booking. It has not announced how much it is investing. The seed stage funding will support WeTrip to develop its proposition and grow globally.
InMotion Ventures set out to invest in the future of transport, mobility and travel supporting entrepreneurs and innovators ‘who change the way we move’ However it has broadened out its investment strategy to include ‘promising’ small businesses working in the outdoor and adventure space. The company says: ‘We invest in early-stage technology companies that change the face of urban mobility, support an active outdoor lifestyle and deliver unique travel experiences’.
Sebastian Peck, Managing Director of InMotion Ventures, said: “As well as investing in the future of mobility, our fund seeks to back companies that are enabling adventure through powerful digital lifestyle brands. WeTrip is rapidly building a community of adventurous travellers, using their powerful tool for group bookings, and we believe there is a genuine unmet need for a product of this kind.”
Yotam Idan, Chief Executive of WeTrip, said: “Our unique platform offers travellers greater flexibility, better value and a simpler way to book group holidays, centred around a shared adventure, to bring the fun back to the booking experience. We are thrilled to have the backing of InMotion to accelerate our product development and support our ambitious global growth plans.”
The Baukjen Group seeks funds on CrowdCube
The Baukjen Group, the UK founded company comprising womenswear brand Baukjen and maternity wear brand Isabella Oliver, has announced its crowdfunding campaign through CrowdCube to raise a minimum of £400,000 to support expansion in the US for the Baukjen brand and to develop a physical presence via concessions and pop-ups.
The company says that within the last two years brand net sales have grown on average 26% and financial years sales last year were £18mn with a net revenue of £10.7mn with a £471k EBITDA. 90% of the Group’s collections are manufactured in Europe and each order is wrapped and shipped from its UK warehouse.
Baukjen de Swaan Arons, Founder and Creative Director of The Baukjen Group, said: “We are a brand that puts our customer at the heart of everything we do, so crowdfunding seemed like the right fit for our business. We’re excited to be democratising this round of investment and opening the opportunity up to our customers, and everyone who believes in our vision, to own shares in our business”.