TravelTech startups to gain funding following Founders Factory and easyJet partnership

British low-cost airline easyJet will be investing in five early-stage TravelTech startups thanks to a multimillion pound partnership with Founders Factory.

As part of the partnership, Founders Factory and easyJet will also co-create two companies from scratch every year.

Dame Carolyn McCall, CEO of easyJet, said the partnership would serve to create value for the airline and its passengers: “This partnership will create real value for easyJet and our passengers by putting disruptive thinking at the centre of our digital strategy.  Over the last five years, we have used digital to transform the airline and the experience of our passengers.

She added: “Working with Founders Factory to explore opportunities for advanced TravelTech services will help us to keep making travel easy and affordable.”

Launched by Brent Hoberman, Henry Lane Fox and Jim Meyerle, Founders Factory is also backed by the likes of Aviva and L’Oréal.

Hoberman, co-founder and executive chairman of Founders Factory, commented: “We are confident that together we can support the next generation of innovators in travel leveraging digital scale, data, personalisation, VR, AI, ecommerce breakthroughs and FinTech.”

The news comes just a week after Founders Factory announced it latest partnership with Chinese private equity firm CSC Group to help nurture AI talent in Europe and China.