JetSetGo, India’s first online marketplace for private jets, has raised funding worth $1.9 million led by Puneet Dalmia, managing director of Dalmia Bharat, which has presence in cement, sugar, power and manufacturing, a company official told VCCircle.
Dalmia participated in the funding round in his personal capacity. The round also saw participation from other individual investors.
The investment comes after Yuvraj Singh-led YouWeCan Ventures picked a 4 per cent stake in the company in July this year.
“Considering JetSetGo’s intrinsic value and the potential of the sector, I have reposed my faith in them," Dalmia said.
JetSetGo, which was founded in 2014 by Kanika Tekriwal and Sudheer Perla, works with almost all non-scheduled aircraft operators in the country in improving utilisation and driving operational and cost synergies.
JetSetGo plans to use this round of capital infusion to enhance ground presence in key airports and launch new product offerings including inter-city private jet shuttles and broader air ambulance services.
The company is also planning to launch HeliSetGo, an online platform for helicopter bookings that will also enable helicopter sharing for its users.
"The government's draft aviation policy will foster development of infrastructure for helicopter tourism and liberalise route approvals for flights done below a certain height which should make it easier to do shuttles within a city," Kanika Tekriwal, co-founder and CEO of JetSetGo, told VCCircle.
"We want to launch our helicopter booking platform before the policy comes into effect," Tekriwal said. The platform has already started undertaking helicopter charters for corporate use, medical evacuation, leisure and weddings.
JetSetGo is doing one flight a day with average cost ranging between Rs 3 lakh and Rs 15 lakh. It generates 50 per cent of revenue from corporate bookings, followed by leisure (20 per cent); the remaining is split between medical emergency and tours.