Jeh Aerospace raises $2.75 million from General Catalyst, others
Co-founded by former chief operating officer of Tata Boeing Aerospace Vishal R Sanghavi and Venkatesh Mudragalla, former senior executive at Tata Sikorsky Aerospace Limited, Jeh Aerospace provides manufacturing solutions to the aerospace and defence (A&D) industry through its scalable facilities and vetted supplier networks.
Aerospace and defence manufacturing startup Jeh Aerospace on Thursday announced raising USD 2.75 million (nearly Rs 23 crore) from General Catalyst through a strategic partnership.
The seed funding round also saw participation from industry veterans such as Airbus India former CEO and MD Dwarakanath Srinivasan and former president of Boeing India Pratyush Kumar (Prat) who chipped in as angel investors, Jeh Aerospace said in a statement.
Co-founded bsy former chief operating officer of Tata Boeing Aerospace Vishal R Sanghavi and Venkatesh Mudragalla, former senior executive at Tata Sikorsky Aerospace Limited, Jeh Aerospace provides manufacturing solutions to the aerospace and defence (A&D) industry through its scalable facilities and vetted supplier networks.
The funds will be deployed to build infrastructure, fuel growth, and prepare a team to transform the supply chain experience for global aerospace customers, it said.
The global aerospace industry confronts several significant challenges that impact its reliability and resilience, according to the company.
These challenges relate to complexity, geopolitical factors, supply chain disruptions, and workforce constraints in the established centres of A&D manufacturing in the USA and Western Europe, enabling new sources of manufacturing capacities and capable talent to build reliable, responsive, and resilient supply chains, it said.
Jeh Aerospace aims to play a meaningful role in solving such constraints, it said.
This is the "most challenging" times and also the most exciting times for the global aerospace and defence industry, according to the two co-founders of Jeh Aerospace.
On one hand, the demand has sharply bounced back post-Covid; on the other, it is severely constrained on the supply side, the company said, adding that it has found strong traction with global customers, helping them improve delivery and supporting their growth needs.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
12:15 PM IST