UK-based jet chartering marketplace operator Victor has received $18m in funding from oil and gas supplier BP’s corporate venturing unit, BP Ventures, aviation services provider BBA Aviation and unspecified existing investors.
Founded in 2011, Victor provides an on-demand jet chartering service that enables users to choose a jet from about 200 partner flight operators based on price and aircraft specifications.
The funding will go to establishing Alyssum Group, an investment vehicle that will connect disparate parts of the aviation industry including operators, brokers, flight planners and fuel providers so they can share data with a view to creating unified commercial and business standards.
Victor will henceforth operate as the lead brand of Alyssum Group, which plans to operate through what it called an acquisitive strategy. Alyssum intends to raise series C funding in mid-2018.
Akira Kirton, managing director of BP Ventures, said: “This latest investment reinforces our commitment to Victor, and Alyssum Group, as a long-term strategic investor and partner.
“We are keen to support Alyssum Group in its vision to create a digital marketplace that services the entire private aviation industry, from customers to suppliers.”
BP Ventures had invested $10m to lead Victor’s $20m series B round in September 2017, investing together with undisclosed family offices and existing backers, and increasing Victor’s total funding to $44.5m. Its earlier investors include founder and CEO Clive Jackson and various angel investors.