IndiGo Ventures Launches First Fund Close of Rs 450 Crore

IndiGo Ventures, the corporate venture capital division of IndiGo airline, has announced the successful first close of its inaugural fund, reaching Rs 450 crore. This initiative, which commenced in August 2024, has received regulatory approval from SEBI to aim for a total of Rs 600 crore. The primary focus of IndiGo Ventures is to invest in early-stage startups that are fostering innovation in aviation and its related sectors. The fund is particularly interested in companies at the pre-Series A to Series B stages and seeks to ensure long-term strategic alignment.

With the completion of this first close, the firm has also confirmed an investment in Jeh Aerospace, although the amount remains undisclosed. Jeh Aerospace operates within the aerospace and defence manufacturing sector. This initial funding milestone and subsequent investment signify a progressive step in IndiGo’s innovation agenda, combining operational expertise with necessary capital to support entrepreneurs tackling challenges in aerospace and related fields.

Pieter Elbers, the chief executive officer of IndiGo, stated that this investment not only reinforces the Indo-U.S. aerospace collaboration but also promotes the Make-in-India initiative while accelerating innovation. This contributes significantly towards positioning India as a key global player in aerospace and aviation.

Jeh Aerospace intends to utilise the investment for scaling its digital manufacturing infrastructure, improving its AI-driven production optimisation and supply chain integration systems, as well as attracting key engineering and production talent.

Founded by experienced professionals Vishal Sanghavi and Venkatesh Mudragalla, who are alumni of Tata’s aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky, Jeh Aerospace offers manufacturing, engineering, and supply chain management solutions tailored for the global aerospace and defence sectors.

In its inaugural year, Jeh Aerospace has successfully grown to a 100-member team comprising engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools in compliance with AS9100 standards, and secured $100 million in long-term contracts with leading global aerospace companies.

In January of the previous year, this Hyderabad-based startup raised $2.75 million during a seed funding round led by General Catalyst, with contributions from angel investors such as Pratyush Kumar and Dwarkanath Srinivas.