TIDMVELA
RNS Number : 2242T
Vela Technologies PLC
10 October 2017
10 October 2017
Vela Technologies plc
("Vela", the "Company" or the "Group")
Update on investment in Portr Limited - AirPortr secures GBP2m
investment from Stobart Group
Travel technology start-up has secured GBP2 million investment
from Stobart Group to address airport capacity constraints
The Board of Vela (AIM: VELA), the investing company focused on
early-stage and pre-IPO disruptive technology investments, notes
the recent press coverage on Portr Limited ("Portr"), the
London-based travel tech start-up, which has secured GBP2 million
investment from Stobart Group as part of a larger funding
round.
The Board of Vela also note the recent press coverage with
regards to London Southend Airport, which is owned by Stobart
Aviation, on their application for permission to extend its
terminal building.
As at the date of this announcement, Vela has an interest
125,619 shares in Portr equivalent to 3.7 per cent. of Portr's
existing issued share capital. Vela's interest in Portr has
increased following a further cash investment of approximately
GBP11,000 made by Vela in Portr in September 2017.
Portr's press release in relation to the investment by Stobart
Group is copied below:
AIRPORTR SECURES GBP2M INVESTMENT FOR FUTURE OF CITY LUGGAGE
CHECK-IN SERVICE
Travel technology scale-up, AirPortr has secured GBP2 million
investment from Stobart Group in order to address airport capacity
constraints
Stobart Group has invested in mobile luggage check-in and
delivery service, AirPortr, enabling flexible and efficient luggage
transportation for airline passengers. The unique partnership
follows the UK government's call for evidence to create a new
aviation strategy, which included city check-ins for luggage that
puts passengers at its heart through improved accessibility,
customer experience and security.
Utilising Stobart's ownership of the entire supply chain
including logistics, aviation services and infrastructure, the
partnership will create a co-branded logistics solution 'powered by
Stobart Aviation', that looks to create a new urban handling model,
addressing capacity constraints for airlines and airports, while
improving the customer experience.
AirPortr's mobile luggage check-in and delivery service was
successfully launched with British Airways in October 2016 and is
the first in the world to be integrated into airline booking
systems. Bringing the bag drop to travellers' doorsteps, AirPortr
facilitates faster and easier travel by erasing the wasted time and
added logistical stress caused by transporting luggage to, from and
through airports.
The investment from Stobart, as part of a larger funding round,
will support AirPortr as part of the company's ambitious plans to
expand its services with several additional airline partners and in
new cities around the world within the next three years.
AirPortr vans will also be co-branded with the Stobart Aviation
logo, the first time the superbrand has chosen to display its logo
alongside a scale-up.
Randel Darby, CEO and Founder of AirPortr said: "In addition to
the credibility of being backed by a FTSE 250 company and one of
Britain's best known brands, we are excited to be working with
Stobart and the operational expertise that the Group brings. This
investment will help us to meet increasing demand for an
alternative mobile check-in solution in cities around the world.
Airline luggage logistics have long lagged behind some incredible
developments in travel technology and we're proud to pioneer a
solution, which we feel could represent the biggest step change
since the boarding pass went mobile."
Warwick Brady, CEO of Stobart Group said: "London airports are
at peak capacity and this is having a major knock-on effect on
customer experience. We believe that there are opportunities to
improve the experience throughout the aviation supply chain; from
hassle-free airports, to well managed and efficient luggage
handling. We're excited to support AirPortr, a business with
logistics at its heart, to become another key component to a
vertically integrated aviation business capable of improving
airport capacity."
AirPortr is currently partnered with Gatwick and Heathrow
airports in London and the service is offered to British Airways
customers via its online channels and mobile app.
For more information about AirPortr visit airportr.com.
Antony Laiker, Executive Director of Vela, commented:
"This investment by Stobart in Portr not only further endorses
and adds to the credibility of the business of AirPortr but also
provides the route forward for AirPortr to be able to offer its
service to a wider audience directly through their airline when
booking their flight."
For further information, please contact:
Vela Technologies plc
Brent Fitzpatrick,
Non-Executive Chairman Tel: +44 (0)
Antony Laiker, Director 7802 262 443
Allenby Capital Limited
(Nominated Adviser)
Nick Athanas/Katrina Tel: +44 (0)
Perez/Asha Chotai 20 3328 5656
Smaller Company Capital
Limited
(Broker) Tel: +44 (0)
Rupert Williams/Jeremy 20 3651 2910
Woodgate
About AirPortr:
Founded in 2012 by entrepreneur Randel Darby, AirPortr is
pioneering flexible and efficient luggage transportation for
airline passengers.
AirPortr is the world's first mobile luggage check-in and
delivery service that is integrated in airline booking systems. The
service was successfully launched in 2016 in partnership with
British Airways and is currently available for British Airways
customers travelling via Heathrow and Gatwick airports in
London.
AirPortr expects several more airlines to be added to the
platform over the coming year in response to inbound interest and
increasing demand for alternative mobile check-in solutions.
AirPortr customers can check-in their luggage from home, at the
office or in their hotel lobby from the day before travel up to
seven hours before flight departure, choosing a one-hour collection
slot.
AirPortr drivers are strictly vetted to aviation standards and
use the company's mobile technology to reconcile customer
identification documents and baggage with airline systems as part
of its secure process for check-in and delivery to the airline.
AirPortr's services were developed following consultation with
the Civil Aviation Authority and Department for Transport and
working with established and trusted partner airlines to ensure the
service is compliant with strict aviation security regulations. All
bags are sealed with tamper-aware technology upon collection and
vehicles remain locked at all times.
For more information go to airportr.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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