IndiGo, India’s largest airline, on Tuesday stated that its corporate venture capital fund called “IndiGo Ventures” has received approval from the Securities and Exchange Board of India (Sebi).
“This fund will invest in startups that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A, and Series B funding. These include startups working on cutting-edge technologies and solutions within the aviation sector,” the airline said, adding that IndiGo Ventures is expected to start investments by March next year.
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The fund will also look to invest in consumer startups that have a touchpoint in the passenger journey, such as travel, lifestyle, hospitality, and transportation.
IndiGo Ventures has commenced pre-investment activities, including engaging with select startups and their founders, the airline mentioned. “GoIndiGoVentures.com has been set up as the portal to access further information about the fund, including its investment thesis, the core valuation proposition for founders, and details on governing entities and their membership,” it added.
Neetan Chopra, chief digital and information officer, IndiGo, said, “As IndiGo embarks on this new journey with IndiGo Ventures, we are committed to fostering innovation, giving wings to aspirations, in aviation and beyond. The startups will benefit from IndiGo’s extensive technical expertise and diverse geographical imprint, leading to the development of new products and services.”
First Published: Oct 15 2024 | 7:29 PM IST
