Leading precision manufacturing company, Aequs Pvt. Lt., has raised $54 million (Rs 488 crore) in equity round funding led by Amansa Capital.
The round also saw participation from global investment firm Steadview Capital, Catamaran, the family office of Infosys founder N. R, Narayana Murthy, Sparta Group LLC., the investment office of Desh Deshpande, and other individual investors.
This follows an earlier round of Rs 225 crore in April 2023 led by Amicus Capital, which has also participated in the current round through its affiliates.
The company plans to utilize the raised funds to launch a new Advanced Technology Products (ATP) to manufacture high-precision components for leading consumer electronics companies.
It supplies precision components and assemblies to most global Aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell.
Aequs has developed an aerospace-focused forgings-to-assembly integrated manufacturing ecosystem at India’s first Aerospace SEZ in Belagavi, Karnataka.
Apart from operating 12 aerospace-focused, fully owned and JV units in (Belagavi), the US (Paris, Texas), and France (Cholet), Aequs has five more operating units in Karnataka’s Koppal and Hubballi cities, for its non-aerospace businesses.
Speaking about the funding round, Aravind Melligeri, Chairman & CEO Of Aequs said, “Aequs has always believed in the Indian manufacturing story and for the past 15 years focused on maximizing in-country value add on the products it makes across the industry verticals it operates in. We are excited to partner with investors who have a deep understanding of the Indian capital markets, which I believe will bring immense value to Aequs. These partnerships will also help in tapping emerging opportunities due to the realignment of global supply chains and their relocation to India in many instances.”
AMBIT Private Ltd. was the exclusive investment banker for this transaction.