IndiGo Ventures, the corporate venture capital arm of airline operator IndiGo, announced the first close of its maiden fund at INR 4.5 billion. Alongside this milestone, the fund has made its first investment in Hyderabad-based aerospace startup Jeh Aerospace. The value of the investment has not been disclosed.
Jeh Aerospace, founded by Vishal Sanghavi and Venkatesh Mudragalla, focuses on high-precision aerospace and defense manufacturing. The company has reported delivery of over 100,000 flight-critical aeroengine components and precision tools within its first year of operations. It currently employs around 100 engineers and technicians and has secured USD 100 million in long-term contracts with global aerospace firms.
IndiGo Ventures received approval from the Securities and Exchange Board of India (SEBI) in August 2024 to raise a total of INR 6 billion. The fund is targeted at early-stage companies in the aviation and allied sectors, primarily at the pre-Series A to Series B stages.
“The fund is focused on investing in startups that align strategically with IndiGo’s long-term innovation goals,” IndiGo Ventures said in a press release.
Jeh Aerospace plans to use the funding to expand its AI-enabled digital manufacturing systems, strengthen its supply chain integration tools, and recruit additional engineering and manufacturing talent.
“At Jeh Aerospace, we are forging a future-ready aerospace ecosystem by leveraging India’s exceptional talent, advanced manufacturing, and AI-driven digital platforms. This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components,” said Vishal R. Sanghavi, Co-founder and CEO of Jeh Aerospace.
“Through IndiGo Ventures, we are excited to partner with Jeh Aerospace, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. By combining our technical expertise and global footprint, this partnership will propel use of next-generation technology in the aerospace and aviation sector,” said Pieter Elbers, CEO of IndiGo.
Jeh Aerospace was founded by executives with experience at aerospace joint ventures involving Tata and international firms such as Boeing, Lockheed Martin, and Sikorsky. The company focuses on cost-efficient production and digital integration in aerospace supply chains.
IndiGo Ventures said the fund aims to support startups addressing operational and technological challenges in aviation and related domains.
