Raghu Vamsi raises ₹400 crore
AI Summary
Raghu Vamsi has successfully raised ₹400 crore in a funding round led by Norwest and Skegen Asset Management, aimed at expanding manufacturing capabilities in India, the UK, and the USA. The company, which serves major global OEMs and has a robust order book of over ₹2,500 crore, is also enhancing its collaborations with top institutions and defense agencies to strengthen its aerospace and defense technology initiatives.
Raghu Vamsi has raised ₹400 crore in its latest funding round led by Norwest and Skegen Asset Management, with participation from Indus Bridge Ventures, GJNX Ventures and noted investor Ashish Kacholia.
The capital will be used to expand manufacturing capacity across the Group’s facilities in India, the UK and the USA; accelerate development of its upcoming integrated manufacturing campus at Hardware Park near Hyderabad International Airport; and strengthen its Mission Systems and Deep-Tech & Autonomous Systems businesses.
With more than 1,200 employees and over ten facilities across three countries, the Group manufactures precision aero-engine components and sub-assemblies for leading global OEMs, including GE Aerospace, Collins Aerospace, Honeywell and Safran, while also serving global energy companies such as Baker Hughes, Halliburton, SLB and GE. It currently has an order book exceeding ₹2,500 crore.
The company has also established collaborations with premier institutions, including the IITs and IIITs, as well as research organisations such as ARCI and defence agencies, including ADA and DRDO, reinforcing its commitment to building globally competitive aerospace and defence technologies from India, according to a release.
Original Article
Published on Hindu BusinessLine