Private jet operator JetSetGo raises nearly Rs 12.73 crore from Puneet Dalmia, others

MUMBAI(PTI): Private aviation services provider JetSetGo has roped in Puneet Dalmia of the Dalmia Bharat Group as an investor and others for $1.9 million (approximately Rs 12.73 crore) investment in pre-series A funding.

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Kanika Tekriwal, co-founder and chief executive of JetSetGo, said that the $1.9 million (approximately Rs 12.73 crore) committed investment is a part of pre-series A funding, and Dalmia will be investing the majority of this in his personal capacity.The Dalmia Bharat Group is into cement, sugar and power businesses.

Tekriwal, who earlier made it onto BBC’s list of 100 most aspirational women of 2015, also said Yuvraj Singh-funded YouWeCan Ventures had acquired stake in the company in July this year. Yuvraj Singh is also an investor in the company.

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The company intends to use the funds to build further on-ground presence in key airports and continue rolling out product offerings including launching inter-city private jet shuttles, broader air ambulance services, Tekriwal said.

JetSetGo was the first private aviation operator to have introduced online private jet booking platform followed up by Baron Aviation.

The company has 80 jets apart from the five 7-seaters that her company has acquired on a wet-lease, profit-sharing and co-ownership model recently, Tekriwal added.

When asked about the revenue, Tekriwal said it is over Rs 1.5 crore a month and set up only in 2014, the company is already making profit.

JetSetGo co-founder Sudheer Perla said his company now works with almost all non-scheduled aircraft operators in the country not only in improving utilisation levels but also in several instances driving operational and cost synergies to enhance profitability.

It boasts of customers like the Ferragamo family, the Duchess of York, Bollywood fraternity on one hand and some of the biggest domestic corporate houses on the other.

Commenting on his investment, Dalmia said, “JetSetGo delivers on its promise of offering customer experience and considering the intrinsic value it has and the potential of the sector, I have reposed my faith in them.”

Posted by on December 16, 2015. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.