The International Airlines Group (IAG) will invest up to €200 million ($217.9 million) over a five-year period in “high-potential companies” through IAGi Ventures, a new corporate venturing arm of the airline group.
This investment is set to be one of the largest of its kind globally and the biggest by a European airline group. IAG said it will pursue investments in companies across all global markets, focusing on businesses developing technologies that address the “most pressing challenges” faced by the aviation industry today.
“Adopting new technologies will improve our business and the value we generate, which is why we are seeking to work with and learn from top innovators through venturing,” said Jorge Saco, IAG’s chief information, procurement, services and innovation officer.
The company emphasised that investments in technology-focused start-ups and scale-ups have been ongoing since 2017, with notable successes including Assaia, LanzaJet and i6.
IAGi Ventures will run in partnership with IAG’s accelerator programme which has been running since 2016.