LONDON - Mirai Flights, a London-based service for instant booking of charter flights with price transparency and focus on the UK, Europe, Middle East and Central Asia, has announced the completion of a $3M investment round. Today, the Mirai Flights app is available in 63 countries and has over 200 active users. Mirai Flights cooperates with 8 private airlines from the CIS, Germany, Malta, and Romania, adding 3-5 airlines every month to the service. The round was funded by Xploration Capital, whose Managing Partner Igor Kim will join the Board of Directors. The company plans to use the funds to scale the service in the UK, Europe, United Arab Emirates, and the CIS states, marketing, and platform development.
Mirai Flights aims to disrupt the business aviation industry by turning it into a last-mile model, analyzing personal preferences, to match supply and demand in the best possible way, utilizing empty legs and thereby reducing future carbon emissions. The service instantly connects clients to private jets, offering a convenient time and location of departure with an option to choose the class of the aircraft, price, number of passengers, comfort level and a payment of up to €300,000 in one click.
"We're on a mission to digitize the aviation industry’s main services using cutting-edge technology to make the working process easier both for the service providers and users," says Irakli Litanishvili, co-founder and CEO of Mirai Flights. "We estimate that the market for commercial flights on private aircrafts is up to 300,000 flights a year or approximately $10 billion in the UK and Europe. Our aim is to cover 4% of this market and provide up to 12,000 commercial flights per year in the UK and Europe in 2023, connecting 150 private jets to the app with the expected turnover of $240 million.”
“We are targeting emerging markets and the business aviation industry is a great example of a highly fragmented space with largely antiquated consumer-facing technology”, says Igor Kim, Managing Partner at Xploration Capital. “By bringing together market players and offering customers instant reservations without tying them to operators, Mirai Flights has a potential to become the leading brand and aggregate the demand side in the long-term”.