Manufacturer of aerospace components JJG Aero has raised $12 million (INR 100 crore) in its first fundraising round from CX Partners, a private equity firm that focuses on India.
The company announced that it planned to utilise the additional funding for other corporate projects, including expanding vertical integration and increasing production capacity at its new location.
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In addition to concentrating on the business-to-business aerospace industry, JJG Aero also provides services to clients in the auto and manufacturing industries, meeting the needs of Tier I suppliers and OEMs across the United States and Europe.
At its Jigani facility in Karnataka, JJG Aero produces industrial and automotive equipment in addition to aeronautical products.
In a statement, the business announced that it would shortly open a second location for the aerospace industry.
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