London-based booking platform Mirai Flights has completed a $3 million investment round.

The Mirai Flights app is available in 63 countries and has over 200 active users. Mirai Flights cooperates with eight private airlines from the CIS, Germany, Malta and Romania, adding three to five 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 as well as in marketing and platform development.

The company aims to turn the business aviation industry into a last mile model, analysing personal preferences to match supply and demand in the best possible way, utilising 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 euros in one click.

"We're on a mission to digitise the aviation industry's main services using cutting-edge technology, to make the working process easier both for the service providers and users," says co-founder and CEO Irakli Litanishvili. "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 four per cent 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 an 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,” adds Xploration Capital managing partner Igor Kim, “By bringing together market players and offering customers instant reservations without tying them to operators, Mirai Flights has the potential to become the leading brand and aggregate the demand side in the long-term.”