Bengaluru-based JJG Aero Raises $12 Mn From CX Partners
Bengaluru-based aerospace components manufacturer, JJG Aero raised USD 12 million (Rs 100 crore) in inaugural funding from CX Partners.
The funds will be used primarily for increasing its manufacturing capacity at its new facility, further vertical integration and other corporate initiatives. Established in 2008, JJG Aero specialises in manufacturing build-to-print machined components, with in-house special process finishing capabilities.
While the company is primarily focussed on building its business in commercial aerospace segment, its diverse capabilities are put to use with its customers in automotive and industrial segments.
"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” said Anuj Jhunjhunwala, CEO, JJG Aero.
"We are thrilled to invest in JJG Aero, our first in this segment. JJG Aero has demonstrated remarkable growth, with a CAGR of 35 per cent over the last three years. This investment will enable JJG Aero not only to continue on its growth path through capacity addition but also upgrade quality of earnings by focusing on higher value-added components. 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." - Vivek Chhachhi, Managing Partner, CX Partners.
Moreover, the company provides assembly, testing, and other value-added services to its esteemed client base. JJG Aero has 3 fully integrated manufacturing facilities in the Bommasandra-Jigani area, near Bangalore, in Karnataka, ably run by a team of 700 people. JJG Aero is setting up an additional facility dedicated to the aerospace segment. Veda Corporate Advisors acted as the sole transaction advisor on the deal.
