According to media reports, Unimech Aerospace, based in Bengaluru, has raised Rs 250 crore (USD 30 million) in its first funding round since its establishment in 2016.
The private placement round saw investments from Steadview Capital Mauritius, ValueQuest Scale Fund and Evolvence India Fund IV. The funds, obtained at a post-money valuation of USD 390 million, will be used for both organic and inorganic growth, as well as product refinement.
According to media reports, led by Anil Puthan, Unimech Aerospace specialises in manufacturing high-precision tooling for aero-engines and airframes, complex high-precision components and assemblies, and products for the aerospace, defence, energy, and semiconductor industries.
According to media reports, in the fiscal year ending March 2023, Unimech Aerospace’s revenue increased to USD 3.5 million from USD 2.1 million while still maintaining its profitability, with USD 350,000 in the fiscal year 2023 compared to USD 210,000 in the fiscal year 2022.
The company plans to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India, aiming to become the first venture-funded aerospace manufacturing company to go public in India, according to media reports.
