Aviation company Japan Airlines (JAL) has launched a $70m corporate venture capital fund to invest in startups in Japan and the rest of the world.
The vehicle, dubbed Japan Airlines Innovation Fund, will invest over a 10-year period, collaborating with and co-creating startups that are developing technologies or services to enhance the travel experience for consumers.
JAL said it will use the fund to provide comprehensive air mobility services by offering consumers novel ways of travelling and an improved experience. US-based venture capital firm Translink Capital will manage the fund on behalf of JAL, providing deal sourcing expertise and helping the fund finalise investments.
The corporate had already begun making investments, providing $10m for supersonic aviation developer Boom Supersonic in late 2017 and participating in a $90.2m series A round for moon exploration company iSpace days later.
JAL said in a statement: “Looking toward 2020 and beyond, JAL will take on the challenge to create new values that are one step ahead of its competitors in the industry and deliver unparalleled service to our customers.
“Furthermore, the carrier will contribute to the betterment of society by promoting inclusive and sustainable industrialisation and fostering innovation.”