Precision manufacturing company Aequs, has raised USD 54 million (Rs 448 crore) in a fresh round of equity funding led by Singapore-based Amansa Capital, which brings on board five new investors, the company said in a statement.
Apart from Amansa, the current round includes investment firm such as Steadview Capital, Catamaran, the family office of Infosys founder N. R, Narayana Murthy, Sparta Group LLC., the investment office of Desh Deshpande and other individual investors. This follows an earlier round of Rs 225 crore in April 2023 led by Amicus Capital, which has also participated in the current round through its affiliates.
According to a statement, the company will use the growth capital to launch a new Advanced Technology Products (ATP), vertical to manufacture high precision components for consumer electronics companies. Aequs claims that it currently derives almost 100 per cent of its revenues from exports. It supplies precision components and assemblies to Aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton and Honeywell.
Aequs has built a globally acknowledged aerospace-focused forgings-to-assembly integrated manufacturing ecosystem at India’s first Aerospace SEZ in Belagavi, Karnataka. It operates the largest aerospace machining capacity in India of over 1.2 million machining hours per year at this campus. Apart from operating 12 aerospace-focused, fully owned and JV units in (Belagavi), US (Paris, Texas), and France (Cholet), Aequs has five more operating units in Karnataka’s Koppal and Hubballi cities, for its non-aerospace businesses.
Aravind Melligeri, Chairman and CEO, Aequs said, “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. We are excited to partner with investors who have a deep understanding of the Indian capital markets, which I believe will bring immense value to Aequs. 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.”
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