JetSetGo, an online marketplace for private jets and helicopters has announced that it has raised undisclosed amount of funding from YouWeCan Ventures, the investment firm founded by Indian star cricketer Yuvraj Singh.
Founded in 2013 by Kanika Tekriwal and Sudheer Perla, Bengaluru-basded JetSetGo is India’s first marketplace for private jets and helicopters. The company provides charter customers to book a private jet online for the first time in India.
While the amount of funding were not disclosed, YouWeCan typically puts in Rs 1 crore to Rs 1.5 crore in startups, picking up 12-15% stakes in portfolio companies.
JetSetGo today has 162 visitors monthly out of which 64.5 per cent are first time visitors. It procures private jets from private jet operators who own and operate them.
JetSetGo’s unique proposition is that for the first time in India discounted flights are being provided that are up to 75% cheaper than what ordinary private jets would cost, making flying private more affordable. These flights are only available on pre-defined destinations at certain times.
JetSetGo also have iOS, android, and web based applications bring aircraft booking to its customers’ finger tips. At its core JetSetGo integrates with a live network of accredited aircraft across the country to ensure users get the right aircraft at the right time at the right numbers.
India has over 200 functional airstrips (a cleared area for the landing and taking off of aircraft or runways withour airport facility) and less than 40% of this connected by commercial airlines, the scope for growth in private aviation for Tier 2 & Tier 3 city connectivity is tremendous.
JetSetGo is currently operating in Delhi, Mumbai, Bengaluru along with international clients in Dubai and New York.
Speaking on the deal Sudheer Perla, co-founder of JetSetGo said: “Our clientele not only comprise corporate houses, sports personalities, celebrities or HNI’s but also those who see value in quick and easy connectivity to locations still not served by commercial airlines. The decision to partner with YouWeCan was an easy one because who better to have as an investor than a customer himself”.
Kanika Tekriwal, CEO and co-founder of the company, said they are in the business to expand market size, bring new users and customers into the mix and, more importantly, deliver an experience through the process.
About this new investment, Youvraj Singh said, “I see a lot of potential and aggression in the brand to give its best to the customer bringing much needed change in the private aviation sector which was long awaited.”
YouWeCan Ventures had earlier invested in four Indian startups – Delhi-based on-demand logistics booking platform Moovo, Gurgaon-based online healthcare marketplace Healthians.com, education services marketplace EduKart and mobile app platform Vyomo.