Indigo invests in air-taxi maker Sarla Aviation
The startup clarified that that IndiGo has no involvement in the company’s eVTOL initiatives.
India’s biggest airline, IndiGo, has picked up an equity stake worth Rs 10 crore in Accel-backed air-taxi startup, Sarla Aviation, regulatory filings show.
Sarla Aviation’s board passed a resolution to issue to IndiGo Ventures Fund -I, 10 equity shares of face value Rs 10 each issued at a premium of Rs 1,87,425 per share and 524 Series A1 Compulsorily Convertible Cumulative Preference Shares of face value Rs 10 each issued at a premium of Rs 1,87,425 per share with the total amounting to about Rs 10 crore, the filing shows.
In a statement, the company clarified that while the airline made a minority investment, IndiGo has no involvement in Sarla Aviation’s eVTOL initiatives.
The Bengaluru-based startup expects to use the newly raised capital to meet general operating, working capital requirements, capital expenditure, and to expand business operations.
Founded in 2023 by Adrian Schmidt, Rakesh Gaonkar, and Shivam Chauhan, Sarla Aviation is developing electrical vertical takeoff and landing (eVTOL) aircraft, Shunya.
The company has raised a total of about $13.4 million in funding as of April this year which included a $10 million Series A1 round in early 2025, led by Accel and Nikhil Kamath. The newly raised funds were expected to be used to develop air taxis as the firm prepares the vehicle for a 2028 launch in Bengaluru, according to reports.
IndiGo’s parent company had previously signed a non-binding partnership with US-based Archer Aviation to launch electric taxis in India. The deal fell through due to Archer’s inability to meet committed timelines, The Economic Times reported, citing source familiar with the matter.
(The article has been updated)