Latest news with #VishalSanghavi
Economic Times
7 days ago
- Business
- Economic Times
IndiGo Ventures raises Rs 450 cr; invests in startup Jeh Aerospace
IndiGo Ventures, the corporate venture capital arm of domestic carrier IndiGo, on Monday announced the first close of its maiden fund at Rs 450 crore. ADVERTISEMENT Besides, the company also announced the first investment in Hyderabad-based aerospace startup Jeh Aerospace, without disclosing the amount. Jeh will deploy the investment to scale its advanced digital manufacturing infrastructure, enhance its AI-driven production optimization and deep supply chain integration platforms, and attract engineering and production talent, it said. Launched in August last year with approval from SEBI to raise Rs 600 crore, IndiGo Ventures is focused on investing in early-stage startups driving innovation in aviation and allied sectors. The fund targets companies at the pre-Series A to Series B stages, with an emphasis on long-term strategic alignment. This first close and investment (in Jeh Aerospace) marks a significant step in IndiGo's broader innovation agenda' combining operational expertise with capital to empower entrepreneurs solving critical challenges in aerospace and related domains, it said. ADVERTISEMENT Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla - alumni of Tata's aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky - Jeh Aerospace combines deep sectoral expertise with sharp operational execution. Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of specialized engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured USD100 million in long-term contracts with global aerospace companies, IndiGo Ventures said. ADVERTISEMENT "By combining our technical expertise and global footprint, this partnership (with Jeh Aerospace) will propel use of next-generation technology in the aerospace and aviation sector. This investment also strengthens the Indo-US aerospace ties, advances make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub," Pieter Elbers, Chief Executive Officer at IndiGo. Despite India being one of the world's fastest-growing aviation markets, the country is still a small player in the global aerospace manufacturing industry, highlighting a significant gap in domestic manufacturing capacity, it stated. "At Jeh Aerospace, we are forging a future-ready aerospace ecosystem by leveraging India's exceptional talent, advanced manufacturing, and AI-driven digital platforms. This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components," said Vishal R. Sanghavi, Co-founder and CEO, Jeh Aerospace.
Time of India
7 days ago
- Business
- Time of India
IndiGo Ventures raises Rs 450 cr; invests in startup Jeh Aerospace
IndiGo Ventures , the corporate venture capital arm of domestic carrier IndiGo, on Monday announced the first close of its maiden fund at Rs 450 crore. Besides, the company also announced the first investment in Hyderabad-based aerospace startup Jeh Aerospace , without disclosing the amount. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo Jeh will deploy the investment to scale its advanced digital manufacturing infrastructure, enhance its AI-driven production optimization and deep supply chain integration platforms, and attract engineering and production talent, it said. Launched in August last year with approval from SEBI to raise Rs 600 crore, IndiGo Ventures is focused on investing in early-stage startups driving innovation in aviation and allied sectors. The fund targets companies at the pre-Series A to Series B stages, with an emphasis on long-term strategic alignment. Live Events This first close and investment (in Jeh Aerospace) marks a significant step in IndiGo's broader innovation agenda' combining operational expertise with capital to empower entrepreneurs solving critical challenges in aerospace and related domains, it said. Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla - alumni of Tata's aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky - Jeh Aerospace combines deep sectoral expertise with sharp operational execution. Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of specialized engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured USD100 million in long-term contracts with global aerospace companies, IndiGo Ventures said. "By combining our technical expertise and global footprint, this partnership (with Jeh Aerospace) will propel use of next-generation technology in the aerospace and aviation sector. This investment also strengthens the Indo-US aerospace ties, advances make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub," Pieter Elbers, Chief Executive Officer at IndiGo. Despite India being one of the world's fastest-growing aviation markets, the country is still a small player in the global aerospace manufacturing industry, highlighting a significant gap in domestic manufacturing capacity, it stated. "At Jeh Aerospace, we are forging a future-ready aerospace ecosystem by leveraging India's exceptional talent, advanced manufacturing, and AI-driven digital platforms. This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components," said Vishal R. Sanghavi, Co-founder and CEO, Jeh Aerospace.
Skift
7 days ago
- Business
- Skift
IndiGo's Startup Investment Arm Picks Jeh Aerospace as First Bet
IndiGo's investment in an aerospace startup is a sign that Indian aviation is slowly beginning to think about its long-term independence and technological depth. It signals a shift in how India might eventually build more of the parts that keep its skies moving. IndiGo on Wednesday announced it has invested in Hyderabad-based startup Jeh Aerospace as its first bet through IndiGo Ventures, a fund aimed at backing early-stage startups in aviation and related industries. The Indian carrier got regulatory approval last October to launch the fund and has raised INR 4.5 billion ($52.5 million) so far out of an expected INR 6 billion ($70 million). IndiGo said it wants to back companies that can solve operational headaches and help the airline reduce dependence on global supply chains. 'The fund will also look to invest in consumer startups that have a touchpoint in the passenger journey, such as travel, lifestyle, hospitality, transportation, etc,' the airline said in October. The companies did not disclose the amount of the investment. What Does Jeh Aerospace Do? Jeh Aerospace focuses on making flight-critical components. The company was founded by Vishal Sanghavi and Venkatesh Mudragalla, both of whom previously worked in Tata's joint ventures with global giants like Boeing and Lockheed Martin. According to an IndiGo press statement, Jeh has locked in long-term contracts worth $100 million with global aerospace clients. The startup also uses artificial intelligence to streamline production, improve quality, and manage complex supply chains more efficiently. India is one of the fastest-growing aviation markets, but it still imports a lot of aerospace components. With most parts for planes flying in India still coming from abroad, this also leads to delays, higher costs, and sometimes even shortages. Jeh aims to change that. "Geographically, the U.S. has the largest aerospace industry and hence the largest markets, and that's why we've established a presence in the U.S., making the U.S.-India corridor a key focus area for us," according to the company website. This fits in with IndiGo's broader ambition of making India a hub for aviation and aerospace. IndiGo CEO Pieter Elbers called Jeh Aerospace, 'a homegrown brand that shares our vision.' 'By combining our technical expertise and global footprint, this partnership will propel use of next-generation technology in the aerospace and aviation sector. This investment also strengthens the Indo-U.S. aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub,' Elbers said. Jeh said it would use the funds to upgrade its facilities, expand AI-driven production, and hire more engineering and production talent. The focus will be on deepening its digital systems and ensuring parts can be made faster, cheaper, and to the exacting standards that international clients expect.
