JJG Aero Raises $12 Million in Funding Led by CX Partners to Expand Manufacturing Operations

• ByStartupStory     |    April 16, 2024

JJG Aero, an esteemed manufacturer of aerospace components, has successfully raised $12 million in a funding round led by CX Partners. This capital injection marks the company’s first significant financial endeavor aimed at expanding its manufacturing capabilities to meet increasing demand from aircraft manufacturers globally.

The Bengaluru-based startup plans to enhance its manufacturing capacity by establishing a new facility, focusing on vertical integration and advancing corporate strategies. Anuj Jhunjhunwala, CEO of JJG Aero, highlighted the company’s preparedness for expansion, stating, “We have spent the last decade in building leading capabilities, processes, compliance standards, customer relationships and obtaining requisite approvals and certifications, and we are now in the right place to grow rapidly.”

Jhunjhunwala also noted the current opportunities in the global aerospace supply chain, which is experiencing unprecedented demand that legacy vendors in Western countries are struggling to meet. “India has emerged as an attractive destination for sourcing components and parts… We are excited to be selected by so many marquee clients as a strategic growth vendor,” he added.

Founded in 2008, JJG Aero has specialized in producing high-precision machined components, boasting capabilities in electroplating, anodizing, painting, and non-destructive testing (NDT), all supported by over 30 NADCAP-approved special processes. The company not only caters to the commercial aerospace sector but also serves the automotive and industrial segments, supplying to American and European OEMs and Tier I vendors.

With three fully integrated manufacturing facilities in the Bommasandra-Jigani area of Bengaluru managed by a team of 700 professionals, JJG Aero is a significant player in its field. The company announced plans to soon add another facility dedicated to the aerospace segment to further bolster its production capabilities.

Vivek Chhachhi, Managing Partner at CX Partners, expressed enthusiasm about the partnership, stating, “We are thrilled to invest in JJG Aero, our first 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 on its growth path through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components.”

Chhachhi believes that JJG Aero’s new venture into the manufacturing of aero-engine components positions the company to capitalize on forthcoming market opportunities and strengthen its market presence further.

Veda Corporate Advisors were the sole transaction advisors for this pivotal deal, paving the way for JJG Aero’s next phase of growth and innovation in the aerospace manufacturing industry.

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