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Tsalla Aerospace raises $1 Mn in maiden funding round

EntrackrEntrackr · 2d ago
Tsalla Aerospace raises $1 Mn in maiden funding round
Medial

Snippets Tsalla Aerospace raises $1 Mn in maiden funding round Tsalla Aerospace has raised $1 million in its first external funding round led by Sunny Stalnaker, executive VP at ASML, with additional support from SIDBI and equity-free grants from the Ministry of Defence’s Innovations for Defence Excellence (iDEX) programme. The proceeds will be used to expand its autonomous systems platform and scale deployment for defence and industrial use cases. Founded in 2019 and incubated at the Indian Institute of Science (IISc), Tsalla Aerospace builds an AI-based autonomy stack for drones and unmanned systems. Its AI Pilot enables unmanned platforms to operate without GPS or communication support and aims to function with zero operator intervention. Tsalla works with the Indian Navy and Indian Army on multiple projects. These include confined-space reconnaissance systems, backpack-based VTOL platforms designed for single-person operation, and logistics use cases such as ship-to-ship delivery in difficult weather conditions. Tsalla competes with domestic defence and autonomy companies such as ideaForge, NewSpace Research & Tech, Sagar Defence, CRON Systems, and global dual-use autonomy developers. According to the company, it also plans to raise $8 million in a seed round to expand its autonomy stack, grow deployments in India and international markets, and enter new defence and industrial segments.

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IPO-bound Unimech Aerospace raises $30 Mn in maiden funding

EntrackrEntrackr · 1y ago
IPO-bound Unimech Aerospace raises $30 Mn in maiden funding
Medial

Unimech Aerospace has raised Rs 250 crore ($30 million) from Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd as a part of its private placement round. This is the maiden funding round for the Bengaluru-based company since its inception in 2016. As per the company, it has raised the funds at a post-money valuation of Rs 3,250 crore ($390 million). The proceeds will be used to pursue both organic and inorganic growth and refine products, the company said in a press release. Led by Anil Puthan, Unimech Aerospace specializes in manufacturing of high precision tooling for aero-engines and airframes, along with complex high precision components, assemblies, and for the aerospace, defence, energy, and semiconductor industries. Its key clients include top aerospace, energy, defence and semiconductor OEMs. The firm has also established itself as an export-oriented company with a presence in the USA, Europe, and the United Kingdom. For the fiscal year ended in March 2023(FY23), Unimech’s revenue jumped to Rs 28 crore from Rs 16 crore while it maintained its profitability with Rs 2.81 crore in FY23 from Rs 1.69 crore in FY22. Unimech claims to have grown to over Rs 200 crore ($24 million) in revenue by FY24. The company also said that it is in the process of filing a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India. Since January 2021, 26 tech startups have gone public and Unimech will become the first venture funded aerospace manufacturing company to go public in India. In the last couple of months, several established startups and companies have raised their maiden external or venture capital funding. The list includes workspace solution provider Incuspaze, ethnic wear brand Libas, consumer electronics startup Indkal, and performance wear brand TechnoSport.

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 $3 Mn led by Accel

EntrackrEntrackr · 7m ago
Nabhdrishti Aerospace raises $3 Mn led by Accel
Medial

Nabhdrishti Aerospace raises $3 Mn led by Accel Aerospace startup Nabhdrishti Aerospace has raised $3 million (around Rs 25 crore) in a funding round led by Accel, along with participation from IIMA Ventures and its existing investors. The proceeds will be used to boost the development and testing of its engine prototypes, as well as talent acquisition, Nabhdrishti Aerospace said in a press release. Co-founded in 2023 by Chouhan, Arjun Srivatsa, and Antanu Sadhu, Nabhdrishti Aerospace is building small gas turbines that will cater to hybrid urban air mobility, unmanned aerial vehicles (UAVs), and decentralized power generation appliances. The company claims its engine serves a dual purpose — propulsion and power. It can cater to hospitals, heavy vehicles, manufacturing segments, as well as light aircraft, helicopters, and hybrid electric flights. According to the Bengaluru-based company, it is developing cutting-edge technologies designed to run on sustainable fuels, including green hydrogen, to power everything from UAVs to next-generation air mobility platforms. Nabhdrishti Aerospace focuses on building sustainable, indigenous propulsion systems to reduce India’s reliance on imported aerospace technology. It aims to generate early revenue while expanding its team, with new hires expected across engineering, production, and customer support by the end of the year. Over the next few years, the company plans to steadily scale its workforce to support its growing product portfolio and customer base. Other notable startups in this space include Garuda Aerospace, Bellatrix Aerospace, and Agnikul.

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