JJG Aero, a company that makes parts for airplanes, has raised $30 million (INR 275 crore) in its Series B funding from the investment firm Norwest.
The money will be used to build a new factory in North Bengaluru, make more of their products in-house, and support other important projects.
“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,” said 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,” he added.
JJG Aero, started in 2008 by Anuj Jhunjhunwala in Bengaluru, makes high-precision parts for the aerospace, automotive, and industrial industries. It works with big global companies, including Collins Aerospace, Safran, and GE, providing specialized machining and processing services.
The company produces a wide range of products, such as precision machined parts, bushes and washers, brackets, manifolds, landing system components, actuators, fluid systems, and avionics.
JJG Aero has more than 100 machines spread over 60,000 sq ft of manufacturing space at its facilities in Bommasandra and Jigani, near Bengaluru.
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