IIMA Ventures, Jaivel bring aerospace, defence acceleration fund for early-stage startups
The aerospace and defence acceleration fund will offer pre-seed and seed funding up to $400,000 each to companies developing technologies in autonomy, advanced materials, advanced manufacturing, and secure communications technologies.
IIMA Ventures, the startup incubator established by IIM Ahmedabad and Jaivel Aerospace, a manufacturing technology firm, have launched an aerospace and defence acceleration fund for 8-10 early-stage companies.
The fund will offer pre-seed and seed funding up to $400,000 each to companies developing technologies in autonomy, advanced materials, advanced manufacturing, and secure communications technologies.
In addition, the startups will get domain-specific expertise to help them accelerate their journey from prototype to market, as well as structured mentorship, and development facilities, and opportunities to collaborate directly with leaders in the aerospace sector.
“Together, we are committed to de-risking the 0-to-1 journey by solving for capital, connections, coaching, and community,” said Vipul Patel, Partner at IIMA Ventures.
Founded in 2002 IIMA Ventures has been working with startups such as Sagar Defense, ePlane, Ideaforge, NabhDrishti, Nopo Nanotechnologies, and Onnes Cryogenics. It has also built a portfolio of around 14 startups in the space-tech domain, including ventures like Agnikul, PierSight, GalaxEye, and Bellatrix.
“Together with IIMA Ventures, we aim to create the platform for startups to leverage Jaivel Aerospace’s international advanced manufacturing network as well as build a robust execution model from the start,” noted Vipul Vachhani, Founder & CEO at Jaivel Aerospace.
Founded in 1998, Jaivel Aerospace specialises in advanced manufacturing technology for the aviation and aerospace sectors, providing services in design, engineering, and component manufacturing.