Bengaluru-based aerospace components manufacturer JJG Aero has raised $30 million in a Series B financing led by Norwest, as the company moves to scale capacity and deepen vertical integration amid rising global demand for aircraft systems and engine parts.
The company said it will deploy the capital primarily to build and add capacity at its upcoming facility in North Bangalore, advance further backward and forward integration, and fund other strategic initiatives. The Series B brings JJG Aero’s total funding raised to $42 million, including a $12 million Series A led by CX Partners in April 2024.
Founded in 2008, JJG Aero manufactures high-precision machined components and provides in-house special process finishing services for the aircraft systems and engines segment. The company also operates a subsidiary serving the automotive components and industrial end markets. JJG Aero’s customer roster includes American and European OEMs and Tier 1 suppliers such as Collins Aerospace, Safran, GE Aerospace, Pratt & Whitney, Woodward, Liebherr, and Boeing.
JJG Aero said it offers capabilities ranging from simple 2-axis to complex 5-axis machining, supported by more than 30 NADCAP-approved special processes, including electroplating, anodizing, painting, and NDT. The company also provides mechanical assembly, testing, and other value-added services to customers.
Norwest said the investment marks its first in this segment and will support JJG Aero’s capacity expansion while helping shift the company’s mix toward higher value-added components. JJG Aero reported a 35% CAGR over the past three years and said it is expanding through a new 200,000 square foot facility on 10 acres in North Bangalore, with a stated goal of reaching ₹1,000 Crore in annual revenue by 2032–33.
Support: Veda Corporate Advisors served as the sole transaction advisor on the deal.
KEY QUOTES
“The last five years have witnessed exponential growth for companies such as ours that possess the capabilities, processes, compliance standards, and customer relationships to meet global aerospace demand. The opportunity is immense. From having two small one-acre sites, we are now building a massive Unit 3 on a 10-acre site with further backward and forward integration, and space to expand into adjacencies at the opportune time. The aerospace supply chain is facing an all-time high demand from aircraft manufacturers, which legacy vendors in the Western world are struggling to meet. With our strengths and value proposition, we see ourselves as a key player for precision-machined components in the aerospace ecosystem. India has emerged as an attractive destination for sourcing components and parts by global leaders, and we are excited to be selected by so many marquee clients as a strategic growth vendor.”
Anuj Jhunjhunwala, CEO, JJG Aero
“We are thrilled to invest in JJG Aero, our first investment 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 its growth trajectory through capacity addition but also to upgrade the quality of earnings by focusing on higher value-added components.”
“Indian businesses have a proven ability to provide high-quality products and services as an outsourcing partner to customers around the world. With strong industry tailwinds, we believe that aero-parts and component manufacturing is emerging as an important segment in India’s manufacturing outsourcing story. We believe JJG Aero is well-positioned to capitalize on these opportunities and further solidify its presence in the market.”
Shiv Chaudhary, Managing Director, Norwest
