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, 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%.

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.

Tech tycoon Azim Premji and Manipal group chief Ranjan Pai have invested an undisclosed sum to acquire a stake in Akasa Air. Additionally, the Jhunjhunwala family, which holds a significant share in the airline,

Akasa Air has partnered with investors including Azim Premji and Ranjan Pai for a capital infusion to support its growth plans.

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.

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.

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, 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,