Unimech Aerospace, based in Bengaluru, declared, that it has secured around $30 million in a new investment round from investors that include Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd.
According to a corporate release, with the most recent investment, IPO-bound Unimech Aerospace has reached a post-money valuation of Rs 3,250 crore ($388 million).
The statement also stated that the money will support Unimech’s strategic goals and expansion initiatives.
“From our humble start in 2016 as a bootstrapped team of five, we’ve grown to over Rs 200 crore in revenue with 380 employees as of FY 2023-24, all without external funding. This investment will enable us to pursue both organic and inorganic growth, enhancing our Build to Print and Build to Spec solutions,” said Unimech chairman and managing director Anil Puthan. Beyond financial support, this investment brings invaluable intellectual capital. By leveraging our investors’ expertise in private and public equity, we aim to strengthen our strategies and operations,” Puthan added.
High-precision tooling for aero-engines and airframes, as well as parts, assemblies, and electro-mechanical turnkey systems for the aerospace, defence, energy, and semiconductor industries, are all produced by Unimech Aerospace.
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For the deal, advising services were supplied by Anand Rathi Advisors.
In recent years, private companies have become increasingly involved in India’s space economy, which was formerly dominated by government organisations. According to the Economic Survey 2022, the number of spacetech firms increased from 11 in 2019 to over 100 by the end of 2021. The industry has been attracting more and more interest from investors.
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A minimum of eleven businesses in the aerospace sector raised $60.8 million in funding between January and June of 2024. Based on exclusive information gathered by ,these include Dhaksha ($11 million), Dhruva Space ($15 million), Jjg Aero ($12 million), PierSight ($6 million), and Skye Air Mobility ($4 million).
New entrepreneurs hoping to capitalise on the space sector’s immense growth potential will be further encouraged by the government’s decision to establish a Rs 1,000-crore venture capital (VC) fund.
About Unimech Aerospace
Unimech is an AS9100 Rev D, ISO 9001, and ISO45001-approved Bangalore-based maker of sophisticated tooling, mechanical assembly, and precision components for aerospace, defence, and power generation firms.
