Unimech Aerospace raises Rs 250 crore led by Steadview Capital, others

Unimech Aerospace has raised Rs 250 crore in a funding round led by Steadview Capital, ValueQuest Scale Fund and Evolvence India, at a post-money valuation of Rs 3,250 crore.

This is part of the Bengaluru-based space startup's private placement round.

Unimech Aerospace specialises in manufacturing high-precision tooling for aero-engines and airframes, along with components, assemblies and electro-mechanical turnkey systems for the aerospace, defence, energy and semiconductor industries.


The startup, which is preparing to go public, will use the funds for organic and inorganic growth, strengthening operations, and enhancing its "build to print and build to spec solutions," it said in a statement.

"From our humble start in 2016 as a bootstrapped team of five, we've grown to over Rs 200 crore in revenue with 380 employees for FY 2023-24, all without external funding," chairman and managing director Anil Puthan said.

The company works with energy, defence and semiconductor OEMs (original equipment manufacturers) and has a presence in the US, Europe and the UK as an export-oriented company.

The development follows the NDA government’s boost to space tech startups in the first budget of its third consecutive term. Finance minister Nirmala Sitharaman said a Rs 1,000-crore venture capital fund will be set up to invest in India's space economy.