Aerospace and Defence Acceleration Fund by IIMA Ventures
Aerospace and defence are the focal points of IIMA Ventures’ latest initiative, which collaborates with Jaivel Aerospace to establish an acceleration fund. This fund is designed to provide support to early-stage startups within the aerospace and defence sector. The intention is to empower around 8-10 startups that are innovating in fields such as autonomy, advanced materials, advanced manufacturing, and secure communication systems.
Funding and Support for Startups
As part of this partnership, each selected startup can receive investment of up to $400K in pre-seed or seed funding. Additionally, these companies will gain access to mentorship, development facilities, and Jaivel’s expansive global manufacturing network.
IIMA Ventures’ Focus on Investment
IIMA Ventures has a history of operating within the deeptech domain, particularly in aerospace and defence. With the launch of this fund, they aim to strengthen and expand their investment portfolios, concentrating predominantly on pre-seed and seed opportunities.
Track Record of Supporting Startups
Previously, IIMA Ventures has provided support to various startups, including Sagar Defence, ePlane, Ideaforge, and Nabhdrishti within the aerospace and defence sectors. Their portfolio also includes space-tech startups such as Agnikul, PierSight, Galaxeye, and Bellatrix.
Fund Structure and Future Plans
According to IIMA Ventures, this new fund is not categorised as an Alternative Investment Fund (AIF). Instead, it is being established using balance sheet capital contributed by both Jaivel Aerospace and IIMA Ventures. They have plans to gradually increase the fund’s size and are currently in discussions with other corporate entities to bolster the initiative.
About Jaivel Aerospace
Founded in 2016 by Vipul Vachhani, Jaivel Aerospace is committed to advancing the performance of manufacturing programmes through the design of innovative systems, processes, and products. The company serves significant clients such as Boeing and Rolls-Royce by offering solutions in intelligent manufacturing, product engineering, and design.