IndiGo Ventures Gets SEBI Nod to Invest in Aviation and Consumer Startups

New Delhi, Oct 16 (KNN) In a significant move that could reshape the landscape of aviation and allied sectors in India, budget carrier IndiGo's corporate venture capital fund, IndiGo Ventures, has secured alternative investment fund (AIF) approval from the Securities and Exchange Board of India (SEBI).

The announcement, made on Tuesday, marks a pivotal moment in the airline's strategy to foster innovation beyond its core operations.

IndiGo Ventures aims to invest in startups at pre-Series A, Series A, and Series B funding stages, with a focus on companies that have the potential to "redefine the future of aviation and beyond."

The fund's scope extends beyond traditional aviation technologies to encompass consumer-focused startups that intersect with the passenger journey, including travel, lifestyle, hospitality, and transportation sectors.

Neetan Chopra, Chief Digital & Information Officer at IndiGo, emphasized the airline's commitment to innovation, stating, "As IndiGo embarks on this new journey with IndiGo Ventures, we are committed to fostering innovation, giving wings to aspirations, in aviation and beyond."

Chopra highlighted that startups would benefit from IndiGo's extensive technical expertise and diverse geographical imprint, potentially leading to the development of groundbreaking products and services.

The fund is spearheaded by Ankit Sharma, a veteran in the startup investment space with an impressive track record of over 30 investments in notable companies such as Basket, Cars24, Cashify, and Ninjacart.

Sharma's experience, coupled with IndiGo's industry knowledge, positions the fund to offer invaluable insights on market trends, regulations, and technological advancements to its portfolio companies.

IndiGo Ventures plans to leverage the airline's vast global network to provide startups with access to various regional markets, facilitating business expansion and scalable growth.

Additionally, the fund promises mentorship and guidance from vertical heads within the IndiGo ecosystem, offering a unique value proposition to startups in its portfolio.

The venture arm was initially announced in September 2023 with a seed investment of Rs 30 crore, signaling IndiGo's commitment to diversifying its interests and supporting the broader aviation and consumer-tech ecosystem.

As the world's 7th largest airline with a fleet exceeding 360 aircraft, IndiGo's venture into startup investments represents a strategic move to stay at the forefront of innovation in a rapidly evolving industry.

This initiative not only demonstrates the airline's foresight but also its dedication to nurturing the next generation of aviation and consumer-tech companies that could potentially transform the sector.

The approval from SEBI and the launch of IndiGo Ventures come at a time when the Indian startup ecosystem is maturing, and sector-specific funds are gaining traction.

With its deep industry knowledge and extensive network, IndiGo Ventures is well-positioned to become a key player in shaping the future of aviation-related technologies and services in India and beyond.

(KNN Bureau)