Premji Invest backs Hical Technologies with $30-40 million for expansion
The funding will be utilised to expand manufacturing capacity and strengthen engineering and R&D capabilities as the company scales its presence in global aerospace and defence programmes
Premji Invest has provided Hical Technologies with a $30-40 million equity investment to support the company's expansion plans. This funding will be used to increase manufacturing capacity and enhance engineering and R&D capabilities as Hical aims to strengthen its position in the global aerospace and defence sectors. The investment coincides with Hical's establishment of a new manufacturing facility in Hosur and the recent opening of a facility in Devanahalli.
Over 90% of Hical's revenue comes from exports, underscoring its significant role in the global supply chain. The company caters to major original equipment manufacturers (OEMs) in the aerospace and defence industries, supplying them with various electromechanical components such as actuators, motors, solenoids, transformers, and integrated systems.
These components are integral to projects involving Dassault Rafale fighter jets, commercial aircraft, ship and submarine equipment, defense applications, ISRO launch vehicles, and satellite systems. Hical Technologies has a long-standing partnership with Dassault Aviation, manufacturing over 1,000 part numbers used in Boeing and Airbus commercial aircraft and business jet applications.
As India advances in the aerospace and defence value chain, there is a growing demand for specialized Indian suppliers capable of meeting the stringent quality, traceability, and program requirements of global OEMs, according to Yashas Jaiveer, Managing Director of Hical Technologies.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
