IndiGo Ventures Takes Off with Maiden Fund

First investment targets aerospace manufacturing startup Jeh Aerospace.

IndiGo Ventures, the venture capital division of India’s largest airline IndiGo, has announced the initial closing of its first fund with Rs 450 crore. The fund will focus on early-stage startups in aviation and related industries.

Key Investment Details

IndiGo Ventures, which gained approval from the Securities and Exchange Board of India (SEBI) in August 2024 to raise Rs 600 crore, will target startups from pre-Series A to Series B stages. Their approach centers on ensuring strategic alignment for the long haul.

The company also announced its first investment: an undisclosed amount in **Jeh Aerospace**, a Hyderabad-based startup specializing in high-precision aerospace and defense manufacturing.

**Jeh Aerospace** plans to use the funds to expand its digital manufacturing capabilities, improve its AI-driven production optimization and enhance its supply chain integration platforms, as well as recruit top talent.

According to data released in May 2024, early-stage investments make up 77% of deal volume in India’s startup ecosystem (LiveMint 2024).

What They’re Saying

“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. **Venky** and I are thrilled to collaborate with IndiGo, a global aviation leader, and are deeply honored by the opportunity to drive innovation and shape the future of aerospace together,” said **Vishal Sanghavi**, CEO of **Jeh Aerospace**.

“Through IndiGo Ventures, we are excited to partner with **Jeh Aerospace**, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. By combining our technical expertise and global footprint, this partnership will propel use of nextgeneration technology in the aerospace and aviation sector,” said IndiGo CEO **Pieter Elbers**.

About Jeh Aerospace

**Jeh Aerospace**, founded by industry veterans **Vishal Sanghavi** and **Venkatesh Mudragalla**, both alumni of Tata’s joint ventures with Boeing, Lockheed Martin, and Sikorsky, has rapidly grown since its inception. The company boasts a team of 100 engineers and technicians and has delivered over 100,000 flight-critical aeroengine components and precision tools meeting AS9100 aerospace standards. They have already secured $100 million in long-term contracts from global aerospace firms.

**Jeh Aerospace** previously raised $2.75 million in seed funding in January 2024, in a round led by General Catalyst with support from angel investors including **Pratyush Kumar** and **Dwarkanath Srinivas**.