Akasa Air has completed an investment round announced earlier this year, adding new partners to its shareholder base as it looks to accelerate its international expansion.
The funding round includes investments from Premji Invest, funds managed by 360 ONE Asset, and Claypond Capital Existing investor, the Jhunjhunwala family, also participated with an additional capital infusion.
Financial details of the transaction were not disclosed.
The company said the deal received all necessary regulatory approvals and marks a “significant milestone” in Akasa’s three-year growth journey.
The Indian budget carrier is now aiming to rank among the world’s top 30 carriers by the end of the decade, with plans to use the fresh capital to expand operations, enhance customer experience, and invest in safety and technology.
“We warmly welcome our new investors to the Akasian family,” said Vinay Dube, founder and CEO of Akasa Air. “Their support affirms our vision and strengthens our ability to scale sustainably while keeping customers and employees at the heart of our operations.”
The airline recently launched its international operations, with services to Southeast Asia, including Phuket, and has signalled plans to expand further ASEAN regions.
Premji Invest, which manages capital supporting the philanthropic work of Wipro founder Azim Premji, said the Indian aviation sector presents long-term opportunities.