Diversified contract manufacturing company with its presence in the Aerospace, Toys, and Consumer Durable Goods verticals, Aequs, has raised INR 225 crore from PE firm Amicus Capital and existing investors in its first external funding round. Amicus Capital is an India-dedicated early growth capital fund with assets under management of INR 1,275 crore across two funds.
Aravind Melligeri, Chairman & CEO, Aequs, said, “The equity investment by Amicus Capital marks the first external funding into Aequs and sets us on a new trajectory to further expand operations in the three current verticals and continue to provide world-class manufacturing solutions to our global customers.”
Aequs stated that the maiden round of external investment was intended to prime the company for the next growth phase. In a release, the company said it proposes to use this round of funding to scale up its manufacturing capabilities to serve domestic and multinational OEM clients across the three verticals.
Commenting on the investment, Mahesh Parasuraman, Co-Founder and Partner, Amicus Capital, said, 'With its marquee customer base, state-of-the-art infrastructure and vertically integrated manufacturing capabilities, Aequs is uniquely positioned to play a significant role in India’s emergence as a global manufacturing power-house.'
Aequs was founded in 2006 and has leveraged its manufacturing ecosystems to reliably deliver supply chain efficiencies to its global customer base. Aequs has fully integrated manufacturing operations across three clusters: Belagavi Aerospace Cluster (BAC), Koppal Toys Cluster (KTC), and Hubballi Durable Goods Cluster (HDC), all located in North Karnataka. Each cluster is the first of its kind in India. Aequs also operates global aerospace manufacturing facilities in the US (Paris, Texas) and France (Cholet).