The corporate investment arm of Indian airline Indigo targets consumer startups in the sustainability, digital solutions and advanced air mobility space.
IndiGo Ventures, the corporate investing unit of Indian airline IndiGo, has closed its first fund at $52m. It made its first investment in Hyderabad-based aerospace manufacturer Jeh Aerospace.
The Indian carrier received regulatory approval from the Securities and Exchange Board of India to launch a CVC last August. Its fund has so far raised a little under its targeted amount of $70m.
The CVC invests in early-stage startups between seed and series B in aviation and related fields including sustainability, digital solutions and advanced air mobility solutions. It will target consumer startups related to passenger journeys, such as travel, lifestyle, hospitality and transportation.
Jeh Aerospace, whose customers include commercial and defence aerospace sectors, will deploy the investment in digital manufacturing infrastructure to enhance its AI-driven production optimisation and supply chain integration platforms, and hire talent.
