Unimech Aerospace, a Bengaluru-based aerospace manufacturing company, has successfully raised Rs 250 crore in its maiden funding round, attracting investments from Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd. Established in 2016 by Anil Puthan, Unimech specializes in the production of high-precision tooling and complex components for the aerospace, defense, energy, and semiconductor industries.
This fresh capital infusion will drive both organic and inorganic growth, allowing the company to enhance its Build to Print and Build to Spec solutions. Unimech’s clientele includes top OEMs in aerospace, energy, defense, and semiconductors. The company has also made significant strides in the export market, with a presence in the UK, Europe, and the USA.
Unimech Aerospace has reported a revenue of over Rs 200 crore ($24 million) for FY24 and is preparing to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). This move positions Unimech to become the first venture-funded aerospace manufacturing company in India to go public, following the IPO trend of 26 tech startups since January 2021.
Commenting on the milestone, Anil Puthan, Chairman and Managing Director of Unimech Aerospace, said, “From our humble beginnings in 2016 as a bootstrapped team of five, we’ve grown to over Rs 200 crore in revenue with 380 employees as of FY 2023-24, all without external funding. This investment will enable us to pursue both organic and inorganic growth, enhancing our Build to Print and Build to Spec solutions.”
Unimech Aerospace’s rapid growth and upcoming IPO mark a significant milestone in India’s aerospace and manufacturing sectors, highlighting the company’s potential to lead in these industries.
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