Commercial

El Al Investment Arm Teams with Lufthansa to Support Startup Tech

By S.L. Fuller | November 7, 2017

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El Al Israel Airlines’ high-tech investment arm, Cockpit Innovation, is teaming with Lufthansa Systems in a new strategic partnership to identify and cultivate startup technologies.

Lufthansa said one of its duties in the partnership includes playing a major role in the process of locating and selecting startups to cooperate with Cockpit Innovation. It plans to do so by sending experts from the company to work with the startups on relevant developments. Lufthansa said it ultimately aims to connect the entrepreneurs and their innovative technologies with the industry’s leading airlines.

Cockpit Innovations has so far, according to Lufthansa, invested in seven companies specializing in artificial intelligence, big data, communications and financial technology. Companies include 30secondstofly, Routier and Bidflyer.

Cockpit also recently became a key investor in the second fundraising round of AeroCRS. AeroCRS developed a platform based on an advanced software as a service model that enables airlines to set up and manage their entire digital operations, distribution and sales system. The solution allows this to be done within a short time period. AeroCRS currently serves more than 50 airlines around the world.

“The right partnerships have proved themselves as innovation catalysts. We are constantly working to expand Cockpit’s global ecosystem,” said Henry Chen Weinstein, CEO of Cockpit. “The connection between Cockpit and a leader in the worldwide industry such as Lufthansa Systems is undoubtedly a major achievement on the path toward the ability to invest in and support startups that focus on additional sectors in the industry on a global scale.”

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