IndiGo Ventures, the corporate venture capital arm of IndiGo Airlines, has announced the first close of its maiden investment fund at Rs 450 crore. The fund, which aims to raise a total of Rs 600 crore, was launched in August 2024 after receiving approval from SEBI.
The fund is designed to support early-stage startups, especially those in aviation and related sectors. It focuses on pre-Series A to Series B companies that align strategically with IndiGo’s long-term goals in innovation and technology.
Hyderabad Startup Backed
Alongside the fund announcement, IndiGo Ventures revealed its first investment in Hyderabad-based Jeh Aerospace. Though the exact amount is undisclosed, the investment is aimed at helping Jeh grow its digital manufacturing capabilities and improve its AI-based production tools.
Jeh Aerospace, founded by Vishal Sanghavi and Venkatesh Mudragalla, both with experience in Tata’s aerospace joint ventures, has rapidly scaled operations since launching. The startup has already delivered over 100,000 critical aeroengine parts and tools, all meeting top aerospace standards.
Jeh’s Rapid Growth
Jeh Aerospace has built a 100-member strong engineering and manufacturing team. It has secured long-term contracts worth $100 million from global aerospace companies. The fresh investment will allow Jeh to expand its manufacturing capacity and bring in more top-tier talent.
Sanghavi, CEO of Jeh Aerospace, expressed his excitement: “This investment helps us meet the rising demand from global customers with flawless, on-time production. We are honored to partner with IndiGo to push aerospace innovation forward.”
IndiGo’s Strategic Vision
Pieter Elbers, CEO of IndiGo, highlighted the alignment between Jeh Aerospace’s goals and IndiGo’s mission. “Through IndiGo Ventures, we are proud to back Jeh Aerospace, a local brand that mirrors our vision for a strong aviation ecosystem. Together, we aim to promote next-gen technology in aviation.”
Jeh Aerospace had earlier raised $2.75 million in seed funding in January 2024, led by General Catalyst. The round also saw support from angel investors such as Pratyush Kumar and Dwarkanath Srinivas.
What is IndiGo Ventures
IndiGo Ventures is a corporate venture capital initiative by IndiGo Airlines, launched to support innovation in the aviation, aerospace, and logistics sectors. By backing high-potential startups, the fund aims to drive technological advancement and boost India’s position in global aviation.
With this first investment in Jeh Aerospace, IndiGo Ventures begins a strategic journey to shape the future of aviation with bold ideas and cutting-edge startups.
