Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Yuvraj Singh’s debut startup fund, YouWeCan Ventures has announced its investment in an online marketplace for private jets and helicopters i.e. JetSetGo. The financial terms of the deal has been left undisclosed by the company, however, it is estimated to be somewhere between $156k – 236k (INR1 – 1.5 Cr.), as the early stage fund typically invest in this ticket size against a stake of 12-15%.
JetSetGo is an exciting venture aimed at revolutionising the private aviation business by re-defining the experience for private charter customers through end to end control of the value chain with collaborative partnerships and technology at its core. JetSetGo is fundamentally re-defining the private aviation business, by seamlessly creating marketplaces that join the dots between charter customers and operators on one hand and service providers with operators on the other we are breaking every barrier that always existed and creating new possibilities that were never believed to exist.
How It Works
JetSetGo recommends aircraft best suited as per the user needs. Extending the experience from the ease of the online booking process. It is currently working on systematically improving service at every customer touch point through the journey process on ground at both departure and arrival airports and on board. For single leg trips, through its online demand aggregation model it enables sale of empty travel legs to other customers thereby adding value to original leg customer by giving a credit against original charter cost and for the empty leg traveler a charter at a more attractive price point.
About Market
Despite established business models globally from fractional ownership to jet loyalty programs, India still lags severely behind with private aviation comprising less than 15% of air traffic in Indian skies. In a country with over 200 functional airstrips and less than 40% of this connected by commercial airlines, the scope for growth in private aviation for Tier 2 & 3 city connectivity is tremendous, says the company.
Nishant Singhal, CIO of YouWeCan Ventures said “In the increasingly crowded start-up funding space we constantly look for innovative investment opportunities that most others don’t see at the outset and for young businesses that will disrupt market spaces they operate in. Addressing real stakeholder problems with superior service offerings for private aviation customers we see JetSetGo evolving to be the new travel platform for a rapidly growing high end luxury experiences market. With our involvement and endorsement by Yuvraj the business will charter new territory.”
Who Are The Users
The startups 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.
Enthralled about the association, Yuvraj Singh said, “It is great to be associated with India’s first marketplace for private jets and helicopters. 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,” Yuvraj Singh, said speaking about the investment.
The startup was founded in 2014 and its team includes Kanika Tekriwal and Sudheer Perla.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.