As reported by ET, billionaire Deepinder Goyal has reportedly teamed up with Surobhi Das, the former chief operating officer of Zomato, to develop an aircraft firm named LAT aircraft.

The firm, which is now operating in stealth mode, intends to connect smaller communities by designing and developing inexpensive 12- to 24-seater Short Takeoff and Landing (STOL) aircraft.

According to the article, Goyal has contributed $20 million to the firm and is serving as a mentor and investor in addition to his non-executive role. Das will be in charge of running the business on a daily basis.

Increasing funding LAT In order to hire professionals from a variety of fields, including material sciences, hybrid propulsion systems, and aerodynamics, aerospace is also negotiating a $50 million seed fundraising round. Read more »