Indian airline Indigo’s corporate fund, IndiGo Ventures, has closed its initial fund at $52 million
The fund is targeting early-stage startups looking for pre-Series A, Series A and Series B investment and with “the potential to redefine the future of aviation and beyond.”
IndiGo Ventures is on the search for startups in aviation and related businesses, including sustainability and digital solutions, as well as advanced air mobility solutions and consumer-facing travel and hospitality platforms.
The corporate venture fund received regulatory approval from the Securities and Exchange Board of India in October last year to raise $70 million.
At the time, Neetan Chopra, IndiGo’s chief digital and information officer, said the startups would ‘benefit from IndiGo’s extensive technical expertise and diverse geographical imprint, leading to the development of new products and services.’
IndiGo Ventures has also made its first investment in Jeh Aerospace, a specialist in aerospace and defence manufacturing.
