Premji Invest Secures Stake in Hical Technologies with $30-40 Million Funding

Aerospace and defence electromechanical components manufacturer Hical Technologies has secured between $30 million and $40 million in equity funding from Premji Invest. Following this investment, the company's valuation is estimated to be between $300 million and $400 million, according to sources.

The newly raised capital will be utilized to expand the company's manufacturing capacity and strengthen its engineering and research and development (R&D) capabilities. This comes as Hical scales its presence in global aerospace and defence programmes.

Hical is currently setting up a new manufacturing facility in Hosur and recently inaugurated another facility in Devanahalli. Exports currently account for over 90 per cent of the company's total business, highlighting its established position within global aerospace and defence supply chains.

The company specializes in supplying global original equipment manufacturers (OEMs) with components such as actuators, motors, solenoids, transformers, and integrated electromechanical systems.

Hical's products are deployed across various critical applications, including Dassault Rafale fighter jets, commercial aircraft, ship and submarine equipment, defence systems, as well as ISRO launch vehicles and satellite systems. Specifically, the company supplies Dassault Aviation for the Rafale programme and manufactures over 1,000 different part numbers utilized in Boeing and Airbus commercial aircraft and business jet applications.

Commenting on the industry landscape, Yashas Jaiveer, Managing Director of Hical Technologies, stated that as India moves up the aerospace and defence value chain, a significant opportunity exists for specialized Indian suppliers capable of meeting the stringent quality, traceability, and programme requirements demanded by global OEMs.

"The investment by Premji Invest into Hical Technologies highlights the growing institutional confidence in specialized manufacturing and high-value engineering sectors in India. With exports driving over 90 percent of its business and deep integration into global supply chains for OEMs like Boeing, Airbus, and Dassault, companies operating in aerospace and defence components are uniquely positioned to scale. As domestic capabilities advance to meet stringent international standards, capital infusion directed toward expanding R&D and production facilities will be critical for sustaining long-term growth in this capital-intensive industry." — Dr. Shishir Gupta, Founder & CEO, StartupLanes