Precision manufacturing company Aequs has raised $54 million (Rs 448 crore) in a fresh round of equity funding led by Singapore-based Amansa Capital, which brings on board five new investors.
Apart from Amansa, the current round includes leading global investment firm Steadview Capital, Catamaran, the family office of Infosys founder 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.
Aequs, which operates a precision manufacturing platform in aerospace and other verticals, will use the growth capital to launch a new Advanced Technology Products (ATP) vertical to manufacture high-precision components for consumer electronics companies. The company currently derives almost 100 per cent of its revenues from exports and supplies precision components to most global aerospace companies like Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell.
Aequs' aerospace-focused forgings-to-assembly integrated manufacturing ecosystem at Belagavi in Karnataka operates the largest aerospace machining capacity in India with over 1.2 million machining hours per year. Apart from operating 12 aerospace-focused, fully owned and JV units in Belagavi, US, and France Cholet, it has five more operating units in Karnataka’s Koppal and Hubballi cities for its non-aerospace businesses.
Aravind Melligeri, chairman and CEO of Aequs remarked, “We have always believed in the Indian manufacturing story and for the past 15 years focused on maximising in-country value add on the products it makes across the industry verticals it operates in. 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.”
The company currently operates manufacturing facilities across India, France, and the US with a 4000 strong workforce.