IndiGo Ventures, the corporate venture capital arm of India’s largest airline IndiGo, has successfully completed the first close of its debut fund at ₹450 crore, marking a significant milestone in its mission to foster innovation in the aviation and allied sectors. Launched in August 2024 with regulatory approval from SEBI to raise up to ₹600 crore, the fund targets early-stage startups at the pre-Series A to Series B stages, focusing on those aligned with long-term strategic growth in aerospace and aviation.
First Investment: Jeh Aerospace – A Hyderabad-Based Aerospace Innovator
Alongside the fund’s first close, IndiGo Ventures announced its maiden investment in Jeh Aerospace, a fast-growing Hyderabad startup specializing in high-precision aerospace and defense manufacturing. Although the exact amount remains undisclosed, this investment is set to accelerate Jeh Aerospace’s expansion plans, particularly in scaling its digital manufacturing infrastructure and enhancing AI-driven production optimization and supply chain integration.
Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla—both alumni of Tata’s aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky—Jeh Aerospace has rapidly grown to a 100-strong team of engineers and technicians within its first year. The startup has already delivered over 100,000 flight-critical aeroengine components and precision tools compliant with AS9100 aerospace standards, securing $100 million in long-term contracts from global aerospace firms.
Driving Innovation and Strengthening Make-in-India
This partnership is a strategic step towards strengthening India’s aerospace manufacturing capabilities, which currently lag behind despite the country’s rapid growth as a major aviation market. IndiGo Ventures CEO Pieter Elbers emphasized that the investment not only accelerates innovation but also reinforces Indo-US aerospace ties and supports the Make-in-India initiative, helping position India as a global aerospace and aviation hub.
Vishal Sanghavi, CEO of Jeh Aerospace, expressed enthusiasm about the collaboration:
“This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components. We are deeply honoured to partner with IndiGo, a global aviation leader, to drive innovation and shape the future of aerospace together.”
The Road Ahead: Leveraging Technology and Talent
Jeh Aerospace plans to deploy the new capital to:
Expand its advanced digital manufacturing infrastructure
Enhance its AI-driven production optimization platforms
Deepen supply chain integration
Attract world-class engineering and production talent
This infusion of capital and expertise is expected to propel Jeh Aerospace’s growth trajectory and contribute significantly to India’s ambition of becoming a future-ready aerospace ecosystem leveraging cutting-edge technology.
Why This Matters for India’s Aviation Ecosystem
Fills a critical gap in domestic aerospace manufacturing capacity
Boosts innovation by supporting startups with operational and financial backing
Strengthens global aerospace partnerships, especially Indo-US collaborations
Supports government initiatives like Make-in-India to build self-reliance in high-tech sectors
With IndiGo Ventures’ fund nearing its ₹600 crore target and Jeh Aerospace’s promising growth, the Indian aviation and aerospace sectors are poised for transformative development driven by homegrown innovation and strategic investments.
This development signals a new era of corporate venture capital in India’s aviation industry, where strategic funding meets cutting-edge technology to create global aerospace champions from Indian soil.