Zomato's Deepinder Goyal invests $20M in homegrown aviation start-up
What's the story
Surobhi Das, the former Chief Operating Officer (COO) of Zomato, has joined hands with Deepinder Goyal to launch an aerospace start-up called LAT Aerospace.
Goyal is learned to have invested $20 million in the company and will be its non-executive co-founder.
According to reports, LAT Aerospace is now in talks for another $50 million seed funding to advance its aircraft project.
Project
LAT Aerospace aims to revolutionize regional air connectivity
LAT Aerospace is currently in stealth mode and is focused on building affordable Short Takeoff and Landing (STOL) aircraft.
These planes would be capable of carrying up to 24 passengers, with a major emphasis on improving regional air connectivity.
The start-up's distinctive strategy differentiates it from air-taxi firms by targeting a range of up to 1,500km for its aircraft.
Aircraft innovation
LAT Aerospace's STOL aircraft: A new approach to air travel
STOL aircraft are generally smaller and need a relatively shorter runway to operate.
"These aircraft will take off and land in compact 'air-stops' that are no bigger than a parking lot, with no need for complex airport infrastructure," a person familiar with the developments told the Economic Times.
This could revolutionize the air travel industry by making regional flights more accessible and convenient.
Market competition
LAT Aerospace seeks to compete with industry giants
With its new aircraft model, LAT Aerospace will look to take on giants such as French-Italian plane maker ATR and Canada's Bombardier, which manufacture aircraft operated by Indian airlines such as IndiGo and SpiceJet for regional flights.
The start-up is currently seeking engineers across various disciplines, including aerodynamics, material sciences, and hybrid propulsion systems, to support its ambitious project.