Raghu Vamsi Aerospace Group Raises About Rs 400 Crore
The group operates more than 10 manufacturing facilities across India, the UK and the US and employs over 1,200 people. It provides end-to-end aerospace manufacturing services, including design, engineering, manufacturing, testing and assembly.
Hyderabad:Hyderabad-based Raghu Vamsi Aerospace Group (RVAG) has raised $40 million (about Rs 400 crore) in a funding round led by Norwest and Skegen Asset Management, with participation from Indus Bridge Ventures, GJNX Ventures and investor Ashish Kacholia.
RVAG manufactures precision aerospace components and sub-assemblies for global original equipment manufacturers, including GE Aerospace, Collins Aerospace, Honeywell and Safran, besides supplying to energy companies such as Baker Hughes, Halliburton, SLB and GE. The company said it has an order book of more than Rs 2,500 crore.
The group operates more than 10 manufacturing facilities across India, the UK and the US and employs over 1,200 people. It provides end-to-end aerospace manufacturing services, including design, engineering, manufacturing, testing and assembly.
The company has also expanded into defence technologies through its Mission Systems and Deep-Tech businesses, developing products such as micro turbojet engines, aircraft hydraulic pumps, missile subsystems and autonomous platforms for defence applications.
"This investment is a vote of confidence in what our team has built over the last two decades. It allows us to scale capacity across our India, UK and USA operations; accelerate our Hardware Park campus and deepen our investments in Mission Systems and Autonomous Systems," said Vamsi Vikas, managing director, Raghu Vamsi Aerospace Group.
Chief executive officer Siva Arvinth said the funding would help the company invest further in technology, talent and manufacturing capabilities as it enters its next phase of growth.
