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Aerospace components manufacturer JJG Aero raises $12M in funding from CX Partners

IndianStartupNewsIndianStartupNews · 1y ago
Aerospace components manufacturer JJG Aero raises $12M in funding from CX Partners
Medial

Bengaluru-based aerospace components manufacturer JJG Aero has secured $12 million in funding from CX Partners. The funds will be used to expand the company's manufacturing capacity and support other corporate initiatives. JJG Aero specializes in manufacturing high-precision machined components for the commercial aerospace, automotive, and industrial segments. The company has experienced significant growth in recent years, and the investment will help it meet the rising demand in the aerospace supply chain. CX Partners believes that aero-parts and component manufacturing is an emerging segment in India's manufacturing outsourcing story and sees JJG Aero well-positioned to capitalize on the opportunities.

JJG Aero raises $12 Mn from CX Partners

EntrackrEntrackr · 1y ago
JJG Aero raises $12 Mn from CX Partners
Medial

Bengaluru-based aerospace components manufacturer JJG Aero has raised $12 million (approximately Rs 100 crore) from CX Partners. The fresh proceeds will be primarily used for increasing its manufacturing capacity at its new facility, vertical integration, and other corporate initiatives. Founded in 2008, JJG Aero offers a wide range of manufacturing services, complemented by over 30 NADCAP-approved special processes, including electroplating, anodizing, paint, and NDT. While the company is primarily focused on building its business in the commercial aerospace segment, its diverse capabilities are put to use with its customers in automotive and industrial segments. The company claims to work with American and European OEMs including tier-1 vendors and achieve 35% CAGR over the last three years. Before this latest investment, JJG Aero was completely owned by J.J Glastronics Private Limited with 99.97% holding. According to startup data intelligence platform TheKredible, JJG Aero registered a 2.2X year-on-year growth to Rs 87 crore during the fiscal year ended March 2023. Significantly, the profits of the Bengaluru-based firm surged 3.2X to Rs 7.5 crore in the same period. The firm is yet to file FY24 financial results. The investment in India’s spacetech funding tripled between 2021 and 2023. As per data compiled by TheKredible, the total funding in the sector surged nearly 3X to nearly $100 million in 2023 from $32.44 million in 2021. Some of the top fundraisers include Pixxel, Skyroot Aerospace, and AgniKul Cosmos among others. In the ongoing calendar year, its direct competitor Jeh Aerospace raised $2.75 million in a seed funding round led by General Catalyst.

Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures

EntrackrEntrackr · 1y ago
Nabhdrishti Aerospace raises pre-seed round led by IIMA Ventures
Medial

Deeptech startup Nabhdrishti Aerospace has raised Rs 3 crore in its pre-seed round led by IIMA Ventures (Formerly IIMA-CIIE). The proceeds will be used to develop fuel flex combustor prototype via thorough testing on the fuel injector and combustor, the company said in a press release. This will enable the company to showcase the proprietary fuel flex technology. This will be followed by designs within the power range of 300 SHP to 1,000 SHP and above. Founded in 2023 by Rohit Chouhan and Arjun Srivatsa, Nabhdrishti Aerospace will design and develop gas turbine engines, beginning with a 350 SHP turbo-prop engine for aviation and power generation use cases. As per the company, the micro gas turbine (MGT) engines will be developed and manufactured and will feature fuel flexibility to enable clean fuel compatibility and enhanced efficiency. The first product, ND 350, will be a 275 KW Turbogenerator. The same core, when coupled with a propeller, claims to generate 350 SHP that can power UAVs (unmanned aerial vehicle) and hybrid electric VTOLs (vertical take-off and landing). Earlier this month, Bengaluru-based aerospace components manufacturer JJG Aero raised $12 million from CX Partners. In January, Jeh Aerospace raised $2.75 million in a seed funding round led by General Catalyst.

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