IndiGo Takes Flight in Venture Capital: Airline Launches Fund for…

Team S · 2024-10-16T10:13:03.000Z

IndiGo, India's largest airline, has received approval from the Securities and Exchange Board of India (SEBI) to launch a venture capital fund. The new fund, called IndiGo Ventures, aims to invest in startups within the aviation and allied sectors, including travel, lifestyle, hospitality, and food and beverages. The airline plans to begin investing by the end of the current financial year, focusing on pre-series A, series A, and series B funding rounds for consumer firms. IndiGo Ventures has already started engaging with select startups, although specific details have not been disclosed. Neetan Chopra, IndiGo's Chief Digital and Information Officer, stated that the startups will benefit from the airline's extensive technical expertise and diverse geographical presence, potentially leading to the development of new products and services. This move is part of IndiGo's strategy to bolster India's aviation and travel industry, which could ultimately benefit the airline itself. As of September, IndiGo commanded 63% of India's domestic market share and has ambitious plans for expansion, including the introduction of a premium product called IndiGoStretch and an order for 30 Airbus A350-900 planes for international long-haul operations. The launch of IndiGo Ventures comes at a time when the airline is performing well financially, having reported a net income of 27.3 billion rupees ($326 million) in the quarter ending June 30.

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IndiGo Takes Flight in Venture Capital: Airline Launches Fund for… | Newnex