IndiGo Ventures, the venture capital arm of airline company IndiGo, has announced the first close of its debut fund at Rs 450 crore. The fund was launched in August 2024 with approval from SEBI to raise a total of Rs 600 crore. It focuses on early-stage startups in aviation and related sectors, investing from pre-Series A to Series B stages with a long-term strategic approach.
Along with this milestone, IndiGo Ventures has made its first investment in Jeh Aerospace, a company involved in aerospace and defence manufacturing. The investment amount has not been disclosed.
This move is part of IndiGo’s wider innovation agenda, aiming to support startups with both funding and industry expertise. Pieter Elbers, CEO of IndiGo, said, “This investment also strengthens the Indo-U.S. aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India’s potential to become a global aerospace and aviation hub.”
Jeh Aerospace plans to use the funds to expand its digital manufacturing capabilities, improve its AI-powered production and supply chain platforms, and grow its team with top engineering and manufacturing talent.
The company was founded by Vishal Sanghavi and Venkatesh Mudragalla, who previously worked with Tata’s aerospace partnerships with Boeing, Lockheed Martin and Sikorsky. Jeh Aerospace delivers engineering, manufacturing, and supply chain solutions to global aerospace and defence clients.
Within its first year, the Hyderabad-based startup has built a team of 100 engineers and technicians, delivered over 100,000 flight-critical aeroengine parts and tools that meet AS9100 standards, and secured long-term contracts worth $100 million from international aerospace companies.
In January 2024, Jeh Aerospace had also raised $2.75 million in seed funding led by General Catalyst, along with support from angel investors Pratyush Kumar and Dwarkanath Srinivas.
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