Automotive manufacturer Jaguar Land Rover and broadcaster Channel 4 have participated in a $10.5m series D round for Festicket, a UK-based music festival ticketing platform.
Jaguar Land Rover’s corporate venturing unit, InMotion Ventures, and Channel 4’s Commercial Growth fund joined venture capital firm Beringea, which led the round, merchant bank Lepe Partners, VC firm U-Start and private investor Eelko Van Kooten.
Festicket provides an online marketplace that allows travellers and live music fans to buy tickets, book and arrange travel plans and rent accommodation for festivals around the world.
In addition to expanding its network of accommodation and travel suppliers, the series D funds will be used to increase the range of events Festicket offers and bolster its presence in additional markets, starting with North America and Asia. It has also agreed a content and media partnership with Channel 4.
Sebastian Peck, managing director of InMotion, said: “Our investment in Festicket reflects our belief that premium mobility is about adventures and experiences that people love for life.
“The festival industry is a tangible manifestation of this desire, and we want to help make it easier for every future festival goer to create everlasting memories.”
The series D round adds to $13.7m Festicket had raised from previous rounds. It has not disclosed details of its series C funding, but Lepe led its $6.3m series B round in 2016, which also featured Wellington Partners, Profounders and Playfair Capital.
Festicket had already collected $2.7m from Wellington Partners, Profounders, Windcrest Partners and Playfair in a 2014 series A round, adding to $600,000 seed financing, according to Canadian Music Week.