Aerospace manufacturer JJG Aero raises $30M in Series B round from Norwest
JJG Aero, which serves marquee clients including Collins Aerospace, Safran, and GE Aerospace, has grown at a 35% CAGR over the past three years and plans to use the funds for capacity addition and vertical integration.
Bengaluru-based aerospace components manufacturer JJG Aero has raised $30 million in Series B funding from Norwest. Veda Corporate Advisors acted as the sole transaction advisor on the deal.
The company said the freshly raised funds will support the construction and capacity addition at its upcoming facility in North Bangalore, drive vertical integration, and fund other strategic initiatives.
"We are thrilled to invest in JJG Aero, our first investment 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 its growth trajectory through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components," said Shiv Chaudhary, Managing Director at Norwest.
Founded in 2008, JJG Aero specialises in manufacturing high-precision machined components with in-house special process finishing capabilities for the aircraft systems and engines segment. The company also operates a subsidiary serving auto component and industrial segments.
JJG Aero's client base includes the likes of American and European OEMs, and Tier-I vendors such as Collins Aerospace, Safran, GE Aerospace, Pratt & Whitney, Woodward, and Liebherr.
This funding round brings JJG Aero's total capital raised to $42 million, following its $12 million Series A round led by CX Partners in April 2024.
"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.
The company offers manufacturing services ranging from simple 2-axis to complex 5-axis machining, complemented by over 30 NADCAP-approved special processes, including electroplating, anodising, paint, and NDT. JJG Aero also performs mechanical assemblies, testing, and other value-added services.
"Indian businesses have a proven ability to provide high-quality products and services as an outsourcing partner to customers around the world. With strong industry tailwinds, we believe that aero-parts and component manufacturing is emerging as an important segment in India's manufacturing outsourcing story. We believe JJG Aero is well-positioned to capitalise on these opportunities and further solidify its presence in the market," Chaudhary added.