Precision manufacturing business Aequs Pvt Ltd has secured $54 million (Rs 448 crore) in a new round of equity fundraising headed by Singapore-based Amansa Capital, bringing on board five new investors. Amansa Capital led the funding round.
Leading international investment firm Steadview Capital, Catamaran, the family office of Infosys founder N R Narayana Murthy, Sparta Group LLC, Desh Deshpande’s investment office, and other private investors are among the participants in the current round in addition to Amansa. This comes after Amicus Capital led a previous round of funding totaling Rs 225 crore in April 2023. Through its affiliates, Amicus Capital has also taken part in the present round.
With the growth financing, Aequs, which runs a precise manufacturing platform for the aerospace industry among other verticals, will open a new Advanced Technology Products (ATP) vertical. This involves producing precision parts for some of the most well-known consumer electronics brands in the world. Most international aerospace firms, including Honeywell, Eaton, Spirit, Collins, Collins, Safran, Bombardier, Boeing and Airbus rely on Aequs for precise components and assemblies.
Aravind Melligeri, chairman and CEO of Aequs, stated, “Aequs has always believed in the Indian manufacturing story and for the past 15 years focused on maximising in-country value add on the products it makes across the industry verticals it operates in.” “These partnerships will also help in tapping emerging opportunities due to the realignment of global supply chains and their relocation to India in many instances.”
Currently, Aequs, the largest aerospace precision component producer in India, receives nearly all of its revenue from exports. In the first Aerospace Special Economic Zone in India, located in Belagavi, Karnataka, it has constructed an integrated industrial ecosystem centered around aerospace forgings to assembly. At this location, it runs the biggest aerospace machining capacity in India, with over 1.2 million machining hours annually.
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