Chennai-based Val-Met Engineering, a specialised supply chain management company focused on aerospace, defence, and space-grade raw materials, has announced that it has secured ₹200 crore in funding from a collection of Nuvama Crossover Opportunities Funds.
The company has secured proceeds from three Nuvama funds, including Nuvama Crossover Opportunities Fund – IIIA, Nuvama Crossover Opportunities Fund – IIIB and Nuvama Crossover Opportunities Fund – 4A.
It plans to utilise the proceeds to strengthen its sourcing network, expand inventory capabilities, enhance technological & processing infrastructure, and deepen relationships with domestic and global OEMs, suppliers and customers.
“Persistent supply chain constraints remain a key reason for the current industry backlog. This, coupled with robust demand is creating a significant opportunity to position India as a strategic hub in the global supply chain of leading aerospace OEMs. Against the backdrop of strong, long-term growth outlined by major global aerospace players, Nuvama Private Equity’s investment will play a crucial role in supporting our growth journey and scaling our capabilities to meet the demand,” P H Subramoni, Promoter and MD, Val-Met Engineering said.
Pranav Parikh, Managing Partner & Head, Private Equity, Nuvama Asset Management Limited commented, “There is a congruence of positive tailwinds in the aerospace, defence and precision manufacturing in India. As a critical link in the supply chain of these high growth industries, Val-Met Engineering will play a crucial role in fulfilling this demand towards self-fulfilment of India’s crucial needs as well as high value exports from the country.”