The Bengaluru-based firm issued a press release on Monday saying the funds might be used primarily for growing its manufacturing capability at its new facility and different company initiatives, resembling additional vertical integration.
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JJG Aero, based in 2008, specialises in customized machined elements. Whereas it’s primarily focussed on constructing for the industrial aerospace section, it additionally has clients within the automotive and industrial segments. Its shoppers embrace authentic gear producers and tier-1 distributors within the US and Europe.
The corporate has been rising at 35percentannuallyover the final three years, the assertion mentioned.
“We’ve got spent the final decade in constructing best-in-class capabilities, processes, compliance requirements, buyer relationships and acquiring requisite approvals and certifications, and we are actually in the correct place to develop quickly,” founder and CEO Anuj Jhunjhunwala mentioned.
Early-stage founders constructing for the aerospace trade advised ET that the sector’s provide chain is going through excessive demand from plane producers. With legacy distributors struggling to satisfy this demand, it has given an increase to delays in manufacturing of latest planes.
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In January, Hyderabad-based aerospace and defence manufacturing startup Jeh Aerospace had raised $2.75 million in a seed funding spherical led by San Francisco-based enterprise capital agency Normal Catalyst.“With robust trade tailwinds, we imagine that aero-parts and element manufacturing is rising as yet one more section in India’s manufacturing outsourcing story,” Vivek Chhachhi, managing accomplice, CX Companions, mentioned in a press release. “With its foray into manufacture of aero-engine elements, we imagine JJG Aero is well-positioned to capitalise on these alternatives and additional solidify its presence out there.”
JJG Aero has three manufacturing services within the Bommasandra-Jigani space close to Bengaluru, run by a crew of 700 folks. The corporate is organising a further facility devoted to the aerospace section, the assertion mentioned.
