IndiGo Ventures Announces Maiden Fund First Close at ₹450 Crore in Jeh Aerospace

IndiGo Ventures, the corporate venture capital arm of airline giant IndiGo, has announced the first close of its inaugural fund at ₹450 crore. The fund aims to fuel innovation within the aviation and allied sectors by supporting promising early-stage startups.

Launched in August 2024, IndiGo Ventures received regulatory approval from SEBI to raise a total corpus of ₹600 crore. The fund primarily targets startups in the pre-Series A to Series B stages, emphasising long-term strategic alignment with IndiGo’s operational expertise and industry vision.

First Investment: Jeh Aerospace

Alongside the first close, IndiGo Ventures has approved its maiden investment in Jeh Aerospace, an aerospace and defense manufacturing company. The financial details of the deal remain undisclosed.

This milestone marks a significant step in IndiGo’s broader innovation agenda. By combining capital with industry knowledge, IndiGo Ventures aims to empower entrepreneurs tackling critical challenges in aerospace and related fields.

Pieter Elbers, CEO of IndiGo, highlighted the broader impact of this investment: “This investment strengthens Indo-U.S. aerospace ties, supports the Make-in-India initiative, and accelerates innovation, helping India realise its potential as a global aerospace and aviation hub.”

Jeh Aerospace’s Growth and Use of Funds

Jeh Aerospace plans to use the new capital to expand its digital manufacturing capabilities, optimise production using AI-driven platforms, enhance supply chain integration, and attract top engineering and production talent.

Also Read: Defence Startup Raphe mPhibr Secures Record $100 Million Funding Round

About Jeh Aerospace

Founded by aerospace veterans Vishal Sanghavi and Venkatesh Mudragalla—both experienced with Tata’s aerospace joint ventures involving Boeing, Lockheed Martin, and Sikorsky—Jeh Aerospace delivers manufacturing, engineering, and supply chain management solutions to global aerospace and defense clients.

In its first year, Jeh Aerospace has grown to a 100-member team of engineers and technicians. The company has delivered over 100,000 flight-critical aeroengine components and precision tools compliant with AS9100 standards and secured $100 million in long-term contracts with major aerospace firms.

Prior to this investment, Jeh Aerospace raised $2.75 million in a seed round in January last year. The round was led by General Catalyst, with participation from notable angel investors including Pratyush Kumar and Dwarkanath Srinivas.

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