IndiGo Ventures, the corporate venture capital arm of India’s largest airline, has announced the first close of its debut fund at approximately $52.5 million (Rs 450 crore).
Launched in August 2024 with SEBI’s approval to raise up to Rs 600 crore, the fund targets early-stage startups in aviation and allied sectors, focusing on pre-Series A to Series B rounds.
The firm has also made its first investment in Hyderabad-based aerospace startup Jeh Aerospace, though the investment amount remains undisclosed.
Jeh will deploy the investment to scale its digital manufacturing infrastructure, enhance AI-driven production optimisation and deep supply-chain integration platforms, and attract engineering and production talent.
Within its first year of operations, Jeh Aerospace claims to have scaled to a 100-member team of specialised engineers and technicians, delivered 1,00,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured $100 million in long-term contracts with global aerospace companies.
“By combining our technical expertise and global footprint, this partnership (with Jeh Aerospace) will propel use of next-generation technology in the aerospace and aviation sector. 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, Chief Executive Officer at IndiGo.
Jeh Aerospace, founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla—alumni of Tata’s aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky—offers manufacturing, engineering, and supply-chain solutions to the global aerospace and defence sector.
