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Precision manufacturing agency Aequs on Monday stated it has raised USD 54-million (Rs 448 crore) in a recent spherical of fairness funding led by Singapore-based Amansa Capital.
The recent spherical of funds will probably be utilised for entry into new superior know-how merchandise vertical and current operations, Aequs stated.
Other than Amansa, the present spherical consists of main international funding agency Steadview Capital, Catamaran, the household workplace of Infosys founder N R Narayana Murthy, Sparta Group LLC, the funding workplace of Desh Deshpande, and different particular person buyers, Aequs stated.
Earlier in April this 12 months, the contract producer had raised Rs 225 crore from Amicus Capital, which has additionally participated within the present spherical by way of its associates, it stated.
Based in 2006, the contract manufacturing agency offers vertically built-in product options throughout the aerospace, toys, and client sturdy items industries with manufacturing services throughout India, France, and the US.
Being the biggest home aerospace precision elements producer, Aequs at present derives virtually 100 per cent of its revenues from exports.
Aequs stated it should deploy the expansion capital to launch a brand new vertical to fabricate high-precision elements for among the international client electronics corporations.
“We’re excited to companion with buyers who’ve a deep understanding of the Indian capital markets, which I consider will carry immense worth to Aequs,” stated Aravind Melligeri, Chairman and CEO of Aequs.
Aequs provides precision elements and assemblies to aerospace corporations corresponding to Airbus, Boeing, Bombardier, Safran, amongst others.
The corporate has arrange an aerospace-focused forgings-to-assembly built-in manufacturing ecosystem at aerospace SEZ in Belagavi (Karnataka). It operates the biggest aerospace machining capability of over 1.2 million machining hours per 12 months on the Belagavi campus.
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