Indian startup Axirium Aerospace raises $3.5 million
This investment will enable the Hyderabad-based company to establish its first state-of-the-art manufacturing facility, strengthen engineering and operations teams, and accelerate the development of end-to-end precision capabilities.
Indian startup Axirium Aerospace has announced that it raised USD 3.5 million in seed funding, led by Shastra VC and BEENEXT, with participation from angel investors including Ashish Gupta (Ex-MD & Co-founder, Helion Advisors) and PVS Raju (Vice Chairman, AIG Hospitals).
This investment will enable Axirium to establish its first state-of-the-art manufacturing facility, strengthen engineering and operations teams, and accelerate the development of end-to-end precision capabilities, the Hyderabad-based company said in a post on LinkedIn.
“Global Aerospace supply chains are undergoing seismic shifts, with India expected to see an outsized market share gain due to numerous advantages,” Vasant Rao, Managing Partner at Shastra VC, was quoted as saying in a report by Manufacturing Today. “The founding team’s 15+ years of domain excellence at TASL, coupled with its cutting-edge digital precision manufacturing capabilities, position Axirium very well to spearhead this change.”
“We are committed to becoming the partner of choice for our customers by consistently delivering precision, reliability, and value,” Nishant Khurana, Co-founder & CEO of Axirium Aerospace, said. “This fundraiser will enable us to expand capacity, deepen our engineering and manufacturing excellence, and build long-term partnerships that strengthen global supply chains.”
