Deepinder Goyal, the CEO of Zomato, has invested $20 million in LAT Aerospace, a new startup co-founded by Surobhi Das, Zomato's former Chief Operating Officer (COO), and Goyal. Das will lead the company's operations, while Goyal will serve in a non-executive role.
"Das and Goyal are the startup's founders. However, Goyal's involvement will be limited to making investments and mentoring the startup in a non-executive capacity, according to the reports.
LAT Aerospace will work to create low-cost short takeoff and landing (STOL) aircraft with up to 24 seats. These aircraft will prioritize regional air connectivity.
According to the report, the company is currently in discussions to raise $50 million in seed funding. It is also looking for engineers in fields like aerodynamics, material sciences, and hybrid propulsion systems.
"The startup is different from air-taxi firms... LAT Aerospace will be looking to build aircrafts that have a range of up to 1,500 km," according to an additional source. STOL aircraft are small planes that need shorter runways 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 source stated.
STOL planes are meant for longer intercity flights, as opposed to air taxis, which are made for quick intra-city travel. LAT Aerospace intends to use this model to compete with major aircraft manufacturers like Bombardier and ATR, whose aircraft are utilized by Indian airlines like SpiceJet and IndiGo.
Zomato lost Surobhi Das in November 2023. She later worked at Zomato's quick commerce platform, Blinkit, where she concentrated on developing new categories and growing markets. She started working for Zomato in 2011 and stayed there for more than ten years. Das was Goyal's chief of staff before that.
Before joining Zomato Das worked as a consultant for Bain & Company, which was also Goyal's former employer.
