7 months ago
JJG Aero Raises $30 Mn
JJG Aero is a company that makes parts for airplanes, like seats, cargo systems, and landing gear.
They just got $30 million from a company called Norwest.
This money will help them build a big new factory in North Bengaluru, India.
They already have some money from another company called CX Partners.
The new factory will be on a 10-acre site, which is much bigger than their current places.
They make things for big companies like Boeing and Pratt & Whitney.
This is all part of a bigger trend where more companies are making airplane parts in India.
JJG Aero raised $30 Mn in Series B funding from Norwest.
The funds will be used to build a new 10-acre facility in North Bengaluru.
The company previously raised $12 Mn from CX Partners in April 2024.
JJG Aero manufactures aerospace components for clients like Boeing and Pratt & Whitney.
The new facility will support vertical integration and other strategic initiatives.
- Who
- JJG Aero, founded by Anuj Jhunjhunwala
- What
- Raised $30 Mn in Series B funding
- Where
- North Bengaluru, India
- When
- Not specified, but prior funding was in April 2024
- Why
- To build a new facility, boost vertical integration, and support strategic initiatives
Key facts
- Company
- JJG Aero
- Founder
- Anuj Jhunjhunwala
- Funding Amount
- $30 Mn (INR 275 Cr)
- Investor
- Norwest
- Total Funding
- $42 Mn
- Previous Investor
- CX Partners
- Previous Funding
- $12 Mn in April 2024
- New Facility Location
- North Bengaluru
- Facility Size
- 10-acre site
- Clients
- Boeing, Pratt & Whitney, Liebherr, Collins, Safran
Quotes
Anuj Jhunjhunwala
CEO of JJG Aero
“The aerospace supply chain is facing an all-time high demand from aircraft manufacturers, which legacy vendors in the Western world are struggling to meet. With our strengths and value proposition, we see ourselves as a key player for precision-machined components 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.”
thehindubusinessline.com
“The last five years have witnessed exponential growth for companies such as ours that possess the capabilities, processes, compliance standards and customer relationships to meet global aerospace demand. The opportunity is immense. From having two small one-acre sites, we are now building a massive Unit 3 on a 10-acre site with further backward and forward integration, and space to expand into adjacencies at the opportune time.”
thehindubusinessline.com
Shiv Chaudhary
Managing Director at Norwest
“Indian businesses have a proven ability to provide high-quality products and services as an outsourcing partner to customers around the world. With strong industry tailwinds, we believe that aero-parts and component manufacturing is emerging as an important segment in India’s manufacturing outsourcing story. We believe JJG Aero is well-positioned to capitalise on these opportunities and further solidify its presence in the market.”
thehindubusinessline.com
“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 its growth trajectory through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components.”
thehindubusinessline.com
