July 25, 2024: Unimech Aerospace raised Rs 250 crore at a post-money valuation of Rs 3,250 crore to expand its business operations and market penetration.
The Bengaluru based startup produces high-precision tools for aero-engines and airframes, coupled with high-precision components, assemblies, and electro-mechanical turnkey systems for the aerospace, defence, energy, and semiconductor industries.
“From our humble start in 2016 as a bootstrapped team of five, we’ve grown to over Rs 200 crore in revenue with 380 employees for FY 2023-24, all without external funding. Welcoming this first round of private placement fills us with gratitude and a profound sense of responsibility,” said Anil Puthan, Chairman and Managing Director of Unimech Aerospace.
“By leveraging our investors’ expertise in private and public equity, we aim to strengthen our strategies and operations. The funds raised from this investment will bolster Unimech’s expansion efforts and strategic objectives,” Puthan added.
Puneet Kumar, Managing Director at Steadview says “We are excited to partner with Unimech. Unimech showcases India’s rise in global manufacturing with its technical expertise and ambitious yet prudent approach. The founders’ journey represents a new generation of Indian entrepreneurs who combine bold ambitions with prudent business building. We believe Unimech is on a strong growth path as India secures its place in global manufacturing.”
Unimech Aerospace‘s portfolio of customers comprise top aerospace, energy, defence, and semiconductor OEMs. With diverse capabilities. As an export-oriented company it has footprints in the US, Europe, and the UK. Anand Rathi Advisors provided advisory services for this deal.
Since the company began operating in late 2016 from a small 1,500 sq. ft. office, it has grown into two business verticals, two manufacturing facilities with over 1,20,000 sq. ft of factory space, and sales offices in the UK, and the US. Unimech Aerospace claims it is led by a unique team of leaders with a combined experience of 100+ years in engineering design, manufacturing services, corporate finance and strategy quality control, and operations management.
The new capital was raised from Steadview Capital Mauritius Ltd, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd.
