Hyderabad-based deep-tech precision manufacturing company Raghu Vamsi Aerospace Group (RVAG) has raised $40 million (about Rs 385 crore) in a Series B funding round led by US venture capital firm Norwest Venture Partners and domestic growth equity and asset management firm Skegen Asset Management.
The round also saw participation from defence-focussed venture capital firm Indusbridge Ventures, Chennai-based independent investor Gunavanth Vaid’s GJNX Ventures, and investor Ashish Kacholia.
Founded in 2022, RVAG manufactures precision components and systems for the global aerospace, defence and energy industries. Over time, the company has grown into a manufacturing platform with over 10 facilities across India, the UK and the US, offering end-to-end capabilities spanning design, engineering, manufacturing, testing and assembly. It currently has an order book of Rs 2,500 crore.
“This investment is a strong vote of confidence in what our team has built over the last two decades, a fully integrated, home-grown manufacturing platform that global aerospace, defence and energy leaders trust with mission-critical work,” said Vamsi Vikas, managing director of Raghu Vamsi Aerospace Group.
The company said it will use the fresh capital to expand manufacturing capacity across its facilities in India, the UK and the US, accelerate the development of its upcoming manufacturing campus at Hardware Park near Hyderabad International Airport, and strengthen its Mission Systems and Deep-Tech & Autonomous Systems businesses.
RVAG supplies precision aero-engine components and sub-assemblies to global original equipment manufacturers (OEMs) including GE Aerospace, Collins Aerospace, Honeywell and Safran. It also serves energy companies such as Baker Hughes, Halliburton, SLB and GE. Its manufacturing capabilities span CNC machining, sheet metal fabrication, composites, electronics, gears, fasteners and NADCAP-approved special processes.
Through its Mission Systems and Deep-Tech businesses, the company develops micro turbojet engines, aircraft hydraulic pumps and missile subsystems for defence programmes. Its ARROBOT platform is focussed on integrated circuit- and jet-based drone technologies as well as unmanned ground vehicles for India’s armed forces.
The investment comes on the same day that Norwest led a Rs 387 crore ($40 million) funding round in Veriqus Group.
