Indian precision manufacturing company Aequs Pvt. Ltd. has raised $54 million in a fresh round of equity funding led by Singapore-based Amansa Capital, which brings on board five new investors.
This investment 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 some of the world’s renowned 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.
It is noted that Aequs has built a globally acknowledged 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 joint venture units in United States and France, Aequs has five more operating units in Karnataka’s Koppal and Hubballi cities, for its non-aerospace businesses.
“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,” said Aravind Melligeri, Aequs Chairman and Chief Executive Officer.
According to him, 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.
It is noted that over the years, Aequs has made significant investments in building best-in-class manufacturing infrastructure and capabilities across industry verticals.
It said the firm is well positioned to capture the surging interest from global customers in Indian manufacturing given its proven track record in precision engineering and large capacities on the ground.