Bengaluru-headquartered regional carrier Star Air said it has raised ₹150 crore in Series B Round Fund to fuel its fleet expansion.

 The funds are from a consortium of marquee investors including pharmaceutical company Micro Labs Limited, Deepak Agarwal of Bikaji foods, and others. The airline of the Sanjay Ghodawat Group plans to raise another ₹200 crore. 

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The funds “will enable us to accelerate fleet expansion, enhance route efficiency, and further invest in NSOP [Non-scheduled operations or charter flights] and MRO [maintenance and research] capabilities,” said CEO Simran Singh Tiwana, adding that the airline plans to grow to 50 aircraft fleet by 2030. The airline today has 9 aircraft.