Founder of Zomato and Shark Tank India judge Deepinder Goyal, CEO of the former, invested $20 million in a fresh aerospace venture called LAT Aerospace. Co-founded with Surobhi Das, a former Zomato COO, LAT Aerospace focuses on building low-cost short takeoff and landing (STOL) planes that would enhance regional air connectivity. This reflects the increased profile of Goyal as an investor and guide as he further expands his horizons away from Zomato.
A Breakthrough for Domestic Air Travel
The emphasis of LAT Aerospace on STOL planes makes it distinct from air-taxi companies. These planes, capable of accommodating a maximum of 24 passengers, are suitable for intercity flights with a maximum range of 1,500 km. Unlike conventional airplanes that need extensive airport facilities, STOL planes are capable of taking off and landing at compact, easily accessible "air-stops" similar to parking lots, without the need for extensive airport facilities. This new method may transform regional travel, which would be more economical and accessible.
The firm is in talks to raise $50 million in seed capital, further propelling its aggressive plans. LAT Aerospace plans to disrupt the big aircraft makers such as ATR and Bombardier, which have a monopoly over regional air travel, especially in India.
Deepinder Goyal's Strategic Involvement
Although Deepinder Goyal's position at LAT Aerospace will be non-executive, his investment and guidance are central to the startup's growth. Goyal's long history of growing Zomato from a tiny food delivery startup into a global behemoth will prove invaluable in helping determine the destiny of LAT Aerospace. His choice to serve in a non-executive capacity frees him up to give strategic advice without getting bogged down in minutiae.
His $20 million investment is a testament to his faith in the potential of the company to revolutionize the aviation sector and enhance connectivity in under-served areas. Goyal's support will also go beyond money, as he will guide the startup's management team through the challenges of scaling a technology-driven aerospace business.
Surobhi Das: Steering LAT Aerospace
Surobhi Das, the former COO of Zomato until November 2023, is spearheading LAT Aerospace's operations. With her extensive experience in scaling businesses and building markets, Das is perfectly positioned to steer LAT Aerospace to success. In her time at Zomato, she was instrumental in scaling the company's quick commerce platform, Blinkit, and her knowledge will be invaluable as LAT Aerospace builds its revolutionary technology.
A New Era for Aviation
LAT Aerospace's vision is not merely constructing airplanes; it's about revolutionizing regional air travel. The company plans to develop affordable, efficient, and accessible travel solutions for cities that are presently underserved by conventional aviation infrastructure. By concentrating on STOL aircraft, LAT Aerospace intends to offer a sustainable intercity travel solution that is more convenient and cost-effective for the masses.
The company is currently on the lookout for engineers with specializations in aerodynamics, material sciences, and hybrid propulsion systems to form a team that will be able to turn this dream into reality. Successful implementation of this concept has the potential to make LAT Aerospace a major global aviation player.
Zomato's Financial Performance Amidst Goyal's New Ventures
Whereas Goyal's attention shifts to new opportunities such as LAT Aerospace, Zomato struggles as well. In the third quarter of FY 2024-25, Zomato posted a 57% decrease in net profit, down to Rs 59 crore. Nonetheless, the firm logged a 64.9% revenue rise, indicating its strength. Goyal's varied investments, including those in LAT Aerospace, reflect his desire to create a legacy that goes beyond food tech.
Conclusion
Deepinder Goyal's investment in LAT Aerospace is a major milestone in his career as an investor and mentor. With a $20 million investment and non-executive position dedicated to investment and strategic advice, Deepinder Goyal is assisting LAT Aerospace in competing with conventional aviation giants. With Surobhi Das at the helm, the startup hopes to transform regional air connectivity with affordable and efficient travel. As Goyal diversifies his businesses further, his reach will be seen across industries far and wide beyond food delivery.
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