Ranjan Pai-backed lending startup Finnable is set to raise INR 30.5 Cr (about $3.5 Mn) in a Series B funding round

India's Akasa Air said on Thursday it is raising fresh capital from the investment offices of Wipro founder Azim Premji and Manipal Hospitals Chairman Ranjan Pai, as well as funds of wealth management firm 360 ONE .

The investment deals will fuel Akasa Air's path to becoming one of the top 30 airlines in the world by the end of this decade.

Akasa Air secured prominent investors to inject new capital into the airline, including Premji Invest, Ranjan Pai, and 360 One Asset, according to a statement released by the airline on 06 February. The Jhunjhunwala family also pledged more capital investment into the airline.

Akasa Air is raising around ₹1,100 crore from investment offices of Azim Premji and Dr Ranjan Pai, as well as funds managed by 360 ONE Asset to support its operations and prepare for growth.

India's Akasa Air said on Thursday it is raising fresh capital from the investment offices of Wipro founder Azim Premji and Manipal Hospitals Chairman Ranjan Pai, as well as funds of wealth management firm 360 ONE.

Tech tycoon Azim Premji’s global investment arm and Manipal group chief Ranjan Pai’s family office have invested an undisclosed sum of money to pick up a stake in Akasa Air, India’s youngest airline.

Akasa Air secures fresh funding from Azim Premji's investment arm, Ranjan Pai's family office and others to fuel growth plans. This investment aims to position Akasa Air among the top 30 airlines globally.

Akasa Air, which started flying in 2022, has raised an undisclosed sum. It's the country's third-largest carrier with a market share of 4.6%.