Aerospace Components Manufacturer JJG Aero Secures USD 12 Mn from CX Partners The Bengaluru-based platform aims to utilise the raised funds mainly toward furthering vertical integration, boosting manufacturing capacity at the new location, and other business activities.
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Aerospace component manufacturer JJG Aero announced that it has raised USD 12 million (INR 100 crore) from CX Partners.
As per the official release, the raised funds will be used primarily to increase its new facility's manufacturing capacity, further vertical integration, and other corporate initiatives.
Anuj Jhunjhunwala, CEO, JJG Aero, said, "The aerospace supply chain is facing all-time high demand from aircraft manufacturers, which the legacy vendors in the Western world are struggling to meet. The global geopolitical issues, economic stability, and government support make India ideally placed to benefit from this. With our strengths and value proposition, we see ourselves emerging as a key player in the aerospace ecosystem. India has emerged as an attractive destination for sourcing components and parts by global leaders, and we are excited to be selected by so many marquee clients as a strategic growth vendor."
Established 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.
It is primarily focused on building its business in the commercial aerospace segment; its diverse capabilities are put to use with its customers in the automotive and industrial segments.
"We have spent the last decade in building best-in-class capabilities, processes, compliance standards, and customer relationships and obtaining requisite approvals and certifications, and we are now in the right place to grow rapidly," Jhunjhunwala added.
Run by a staff of 700, JJG Aero has three fully integrated manufacturing facilities in the Bommasandra-Jigani area of Karnataka, close to Bengaluru.
The platform claims that American and European OEMs as well as Tier-1 vendors are among the company's esteemed clientele.
Vivek Chhachhi, Managing Partner, CX Partners, said, "This investment will enable JJG Aero not only to continue on its growth path through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components. Indian businesses have a proven ability to provide high-quality products and services as an outsourcing partner to their customers."
"With strong industry tailwinds, we believe that aero-parts and component manufacturing are emerging as one more segment in India's manufacturing outsourcing story. With its foray into the manufacture of aero-engine components, we believe JJG Aero is well-positioned to capitalise on these opportunities and further solidify its presence in the market," he added.
