JJG Aero, an aerospace components manufacturer based in Bengaluru, has secured $12 million (around Rs 100 crore) in funding from CX Partners. This investment will primarily support the expansion of manufacturing capabilities at its new facility, vertical integration, and other corporate endeavors.
Established in 2008, JJG Aero provides a variety of manufacturing services and holds certifications for over 30 NADCAP-approved special processes such as electroplating, anodizing, painting, and non-destructive testing (NDT).
The company mainly serves the commercial aerospace sector but also applies its extensive capabilities to the automotive and industrial sectors. JJG Aero has established partnerships with American and European original equipment manufacturers (OEMs), including tier-1 vendors, and has reported a compound annual growth rate (CAGR) of 35% over the past three years. Previously, JJG Aero was entirely owned by J.J Glastronics Private Limited, holding 99.97% of the company.
According to TheKredible, a startup data intelligence platform, JJG Aero’s revenue grew 2.2X year-on-year to Rs 87 crore for the fiscal year ending March 2023, while profits increased 3.2X to Rs 7.5 crore. The company has not yet submitted its financial results for FY24.
The investment landscape in India’s space technology sector has seen substantial growth, with funding tripling between 2021 and 2023. TheKredible reports that total investment in the sector escalated almost 3X to nearly $100 million in 2023 from $32.44 million in 2021. Leading companies in this fundraising boom include Pixxel, Skyroot Aerospace, and AgniKul Cosmos.
This year, JJG Aero’s direct competitor, Jeh Aerospace, raised $2.75 million in a seed funding round led by General Catalyst.
