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.

The airline's net loss more than doubled in 2023-24, soaring to Rs 1,670 crore from Rs 744 crore in the previous year

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.

The consortium of investors includes the investment arm of Azim Premji, Claypond Capital – the investment office of Dr Ranjan Pai, as well as funds managed by 360 ONE Asset.

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 receives significant investment from marquee investors like Premji Invest and Jhunjhunwala family, fueling its ambitious growth plans and international expansion.

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%.

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.

Akasa Air, India’s fastest-growing airline, has signed capital infusion agreements with a consortium of prominent investors to support its ambitious growth trajectory.The investors include Premji Invest,