IndiGo Ventures Secures INR 450 Cr in First Close, Invests in Jeh Aerospace
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IndiGo Ventures, the corporate venture capital arm of airline IndiGo, has announced the first close of its debut fund at INR 450 crore.
The fund, launched in August 2024 with SEBI's approval to raise up to INR 600 crore, aims to back early-stage startups that are shaping the future of aviation and related industries.
With the initial corpus secured, IndiGo Ventures has made its first investment in Jeh Aerospace, a Hyderabad-based aerospace and defence manufacturing startup. While the amount remains undisclosed, the investment is intended to fuel Jeh's growth in digital manufacturing and AI-enabled production systems.
"This investment also strengthens the Indo-US aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub," said Pieter Elbers, CEO of IndiGo.
Jeh Aerospace was founded by aerospace veterans Vishal Sanghavi and Venkatesh Mudragalla, both of whom have worked with Tata's joint ventures with Boeing, Lockheed Martin, and Sikorsky. The company specialises in precision manufacturing, engineering, and supply chain solutions for the global aerospace industry.
Within a year of operations, Jeh has scaled to a team of 100 engineers and technicians, delivered over 100,000 flight-critical components, and secured USD 100 million in long-term contracts with global clients.
The fresh capital will support the company's efforts to expand its AI-driven production capabilities and deepen its talent pool.
"Partnering with IndiGo Ventures allows us to accelerate our mission of redefining aerospace manufacturing from India," said Vishal Sanghavi, Co-founder of Jeh Aerospace.
The fund plans to continue investing in startups from pre-Series A to Series B stages, aiming to align innovation with IndiGo's long-term strategic interests in the aviation sector.
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