The marketplace for private jets, helicopters and air ambulance, JetSetGo, has raised an undisclosed amount of funding from Yuvraj Singh’s startup fund YouWeCan Ventures. The company will use funds for improving service and marketing.
The Delhi-based startup enables the sale of empty travel legs to other customers thereby adding value to original leg customer (by giving a credit against original charter cost). This way, the empty leg traveler gets a charter at a more attractive price point.
JetSetGo provides charter customers the transparency and flexibility to book a private jet online in India.
The company's clientele base includes corporate houses, sports personalities, celebrities, and HNIs. It also offers quick and easy connectivity to locations not served by commercial airlines. Yuvraj is one of the early clients of the company.
Speaking on the deal Kanika Tekriwal CEO and Co-founder said,
We are here to not just do what is currently being done better but to expand the market size, bring new users and customers into the mix and more importantly deliver a superior experience through the process. The private aviation industry in India has historically been operating behind closed doors with alarmingly low levels of market awareness and product information.
Despite established global business models from fractional ownership to jet loyalty programs, India lags behind in this domain with private aviation comprising less than 15 per cent of air traffic in Indian skies. In a country with over 200 functional airstrips and less than 40 per cent of this connected by commercial airlines, the scope for growth in private aviation for Tier II & III cities connectivity is tremendous. Speaking about his investment thesis, Yuvraj said,
JetSetGo has left me impressed with its unique concept and capabilities. 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.
This is the fifth investment by YouWeCan ventures this year. Earlier, it pumped money in Delhi-based on-demand logistics booking platform Moovo.in, healthcare marketplace Healthian, and Edukart. The startup fund also invested in mobile-centric beauty and wellness platform Vyomo.
Nishant Singhal, CIO of YouWeCan Ventures, believes that JetSetGo will evolve to be the new travel platform for a rapidly growing high-end luxury experiences market by addressing real stakeholder problems with superior service offerings for private aviation customers.
JetSetGo currently has no organised competition. Unlike the US, private aviation in India has not gained much traction. This funding round from Yuvraj will help JetSetGo to expand its footprint to more cities and importantly board more sports personalities, celebrities, and HNIs.