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Aero-Sports Equipment Maker Startup, Wefly Raises Funding From Hong-Kong!

Achieving Wefly’s dream to fly is closer to reality!

Hong Kong-based investment firm Swastika Company has acquired a 20% stake in the Mumbai-based startup, Wefly. As part of the contract, Vaibhav Jain, director at Swastika, will also be coming on board as a partner for the company. The deal amount remains undisclosed.

Core Efforts at Wefly

Founded in May 2015 with a mission to deliver the ultimate human body flying experience in India, Wefly manufactures aero sports equipment such as axial fans, which help simulate skydiving experience indoors.

The startup is also planning to launch a mobile indoor skydiving unit next month which is currently under manufacturing. The indoor skydiving unit will be a 20 feet container fitted with a 600 HP (horsepower) diesel engine that powers an 82 inch (around seven feet) diameter axial fan that rotates at 22,000 rpm (rotations per minute), generating a 200km per hour velocity that can propel a user up to 40 feet in air. Whoa, that’s a mouthful!

Founder at Wefly, Amit Patel said the funds raised will go into the fabrication and assembly of machinery.

The First Indian Venture in Aero-sports

Commercially expected to be launched next month, the unit will be used as a means of recreational tourism, making the company the first such Indian venture in the Aero-sports Space.

Wefly’s promotional tie-up with the Ministry of Tourism is set and ready through which the mobile unit will make trips to six Indian cities, including Mumbai, Pune, Goa, Bangalore, Chennai and Hyderabad, by March 2017.

Through such efforts, can India soon become the leader in aero sports space? Please share your thoughts in the comments section below.

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Startup-Buzz Team

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Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

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