british airways esplorio
3 months ago
 

British Airways parent invests in Esplorio and VChain

A trip-sharing service and a blockchain customer data business are two startups on the receiving end of an investment from International Airlines Group.

The umbrella company that contains British Airways, Iberia, Aer Lingus and Vueling has backed the companies as part of its new Hangar 51 accelerator programme for startups.

Esplorio and VChain were two of five startups selected for the first wave of businesses to go through the Hangar 51 programme announced last year.

Details of the investment value and/or stakes taken in the two companies have not been disclosed.

IAG says it has a “multimillion pound investment for digital transformation”.

VChain is building a digital identity platform for passengers, part of which could be used in conjunction with IATA’s One Identity project to speed up airport systems using biometrics and digital authentication.

Esplorio is a consumer-facing app that records and share travel experiences.

Both companies tested their technology on IAG internal processes or staff during the ten-week incubation period at IAG’s HQ in the UK.

IAG says it will be repeating the accelerator programme again in the future.

The group’s head of global innovation, Stephen Scott, says:

“The two companies we are investing in have the potential to add great value, rich content to our customers and operational efficiencies.”

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Kevin May

About the Writer :: Kevin May

Kevin May was a co-founder and member of the editorial team from September 2009 to June 2017.

 

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