JJG Aero secures $12M led by CX Partners; to expand manufacturing facility

Aerospace components manufacturer JJG Aero secured $12 million in its first funding round spearheaded by CX Partners. The startup will use the capital to expand its manufacturing capacity at its new facility, enhancing vertical integration and corporate initiatives. 

“We have spent the last decade in building leading capabilities, processes, compliance standards, customer relationships and obtaining requisite approvals and certifications, and we are now in the right place to grow rapidly," said Anuj Jhunjhunwala, CEO of JJG Aero, in a statement. 

He added, "The aerospace supply chain is facing all-time high demand from aircraft manufacturers, which the legacy vendors in the Western world are struggling to meet... India has emerged as an attractive destination for sourcing components and parts... We are excited to be selected by so many marquee clients as a strategic growth vendor,” he added. 

Founded in 2008, the Bengaluru-based company specialises in producing high-precision machined components complemented by in-house process finishing capabilities.

JJG Aero also serves customers in the automotive and industrial segments, catering to American and European OEMs and Tier I vendors, besides focusing on the commercial aerospace sector.

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JJG Aero offers a broad range of manufacturing solutions, backed by over 30 NADCAP-approved special processes, including electroplating, anodizing, paint, and NDT. It also provides assembly, testing, and other services to its clients. 

Also, the company has three fully integrated manufacturing facilities in the Bommasandra-Jigani area in Bengaluru, overseen by a team of 700 professionals. The company in the statement said it will soon establish an additional facility catering to the aerospace segment.

"We are thrilled to invest in JJG Aero, our first in this segment. JJG Aero has demonstrated remarkable growth, with a CAGR of 35% over the last three years. This investment will enable JJG Aero not only to continue on its growth path through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components," said Vivek Chhachhi, Managing Partner, CX Partners. 

He added, "With its foray into the manufacturing of aero-engine components, we believe JJG Aero is well-positioned to capitalise on these opportunities and further solidify its presence in the market.” 

Veda Corporate Advisors served as the sole transaction advisor for the deal.