Rakesh Jhunjhunwala's lofty bet has grown fourfold: What lies ahead

In 2021, Vinay Dube launched Akasa Air, backed by investor Rakesh Jhunjhunwala. Despite initial losses, the airline's valuation has grown to $350 million. Akasa has expanded its fleet rapidly, overtaking SpiceJet in market share, and is now seeking $125 million in new investments from Premji Invest and Claypond Capital for further growth.