Precision manufacturing and deeptech company Raghu Vamsi Aerospace Group (RVAG) on Monday announced that it has raised $40 million (Rs 400 crore) in its latest funding round led by Norwest and Skegen Asset Management.
The funding also saw participation from Indus Bridge Ventures, GJNX Ventures and investor Ashish Kacholia, the startup said in a statement.
The capital will be used to expand manufacturing capacity across the group’s facilities in India, the UK and the US; accelerate development of its upcoming integrated manufacturing campus at Hardware Park near Hyderabad International Airport; and strengthen its mission systems and deep-tech and autonomous systems businesses.
“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. It allows us to scale capacity across our India, UK and USA operations; accelerate our Hardware Park campus and deepen our investments in Mission Systems and Autonomous Systems,” said Vamsi Vikas, Managing Director, Raghu Vamsi Aerospace Group.
Hyderabad-based RVAG manufactures precision aero-engine components and sub-assemblies for leading global OEMs, including GE Aerospace, Collins Aerospace, Honeywell and Safran, while also serving global energy companies such as Baker Hughes, Halliburton, SLB and GE.
The company said it currently has an order book exceeding Rs 2,500 crore.
The company has also established collaborations with premier institutions, including the IITs and IIITs, as well as research organisations such as ARCI and defence agencies, including ADA and DRDO.
Beyond contract manufacturing, RVAG also claims to have built indigenous capabilities through its mission systems and deep-tech verticals. The company develops micro turbojet engines, aircraft hydraulic pumps and missile subsystems for defence programmes, while its ARROBOT platform is advancing IC & jet-based drone technologies and unmanned ground vehicles for India’s armed forces.
