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IndiGo, India’s largest airline, said on Tuesday 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 in the aviation sector,” the airline said, adding that IndiGo Ventures is expected to begin 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 initiated pre-investment activities, including engaging with select startups and their founders, the airline said. “GoIndiGoVentures.com has been created as a portal to access additional information about the fund, including its investment thesis, basic valuation proposition for the founders and details about the governing entities and their members,” he adds.
Neetan Chopra, Chief Digital and Information Officer, IndiGo, said, “As IndiGo embarks on this new journey with IndiGo Ventures, we are committed to driving innovation, giving wings to aspirations, in aviation and beyond. Startups will benefit from IndiGo’s extensive technical expertise and diverse geographic footprint, leading to the development of new products and services.
First publication: October 15, 2024 | 7:29 p.m. STI