Precision manufacturing firm Aequs has raised $54 million (Rs 448 crore) in a fresh round of equity funding led by Singapore’s Amansa Capital, as per a press statement. Other investors include Steadview Capital, Catamaran Venture, which is run by the family office of Infosys co-founder Narayan Murthy, and Desh Deshpande’s venture arm Sparta Group LLC, along with individual investors.
The fresh funding round has added five new members to the board of the Karnataka-based aerospace firm. It follows an earlier round worth Rs 225 crore completed in April 2023 which was led by Amicus Capital.
The company, which provides vertically integrated product solutions in the aerospace, toy, and consumer durable goods industries, said it will deploy the fresh capital to launch a new advanced technology products vertical to manufacture high precision components. Aequs relies on exports for most of its business and counts global aerospace bigwigs like Boeing, Honeywell, Airbus, Safran and Spirit amongst its customers.
“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,” chairman and chief executive Aravind Melligeri said in a statement.
Published 30 October 2023, 23:02 IST