Rangsons Aerospace has raised Rs 300 crore ($34 million) in a funding round while IPO-bound PhysicsWallah has roped in three independent directors to its board.
Rangons raises funding from ValueQuest
Mysore-headquartered Rangsons Aerospace has raised Rs 300 crore ($34.4 million) in funding led by ValueQuest Investment Advisors to scale its operations, drive growth, and expand into the global market.
Besides organic growth, the company plans to use a part of the corpus to foray into new business areas through strategic acquisitions.
This marks ValueQuest Tristar Fund’s first investment. A category II alternative investment fund (AIF), the firm is focused on sectors such as defence, aerospace, and precision engineering.
Established in 2011, Rangsons Aerospace is part of NR Group, which comprises six companies in diverse businesses such as essential oils, fragrances, incense, and electronics.
IPO-bound PhysicsWallah adds three independent directors
Physics Wallah, which is currently preparing to launch an IPO over the next few months, has roped in three independent directors – Deepak Amitabh, Rachna Dikshit, and Nitin Savara – to its board.
While Amitabh currently oversees Adani Group’s flagship operations, Dikshit serves as an independent director in many companies. And, Savara, who is an ex-deputy CFO at Zomato, holds similar roles across several firms.
The edtech firm’s board currently includes WestBridge Capital’s Sandeep Singhal, besides company’s co-founders, Alakh Pandey and Prateek Maheshwari.
The Noida-based firm, which counts Lightspeed Ventures, WestBridge and GSV Ventures, among its investors, is expected to file its draft IPO papers soon.
