In order to support startups in the aerospace and defense industry, IIMA Ventures and Jaivel Aerospace have partnered to establish an acceleration fund.

Key Highlights

• IIMA Ventures and Jaivel Aerospace launch a fund to support early-stage aerospace and defense startups. 
• The fund aims to invest in 8–10 startups, providing up to $400,000 each, mentorship, and access to Jaivel’s global manufacturing network.

The fund seeks to support eight to ten startups that are creating solutions in fields like advanced manufacturing, advanced materials, autonomous vehicles, and secure communication systems.

Each business will get up to $400K in pre-seed or seed funding as part of this partnership, in addition to access to development facilities, mentorship, and Jaivel's extensive global manufacturing network.

IIMA Ventures has experience in the deeptech, aerospace, and defense industries, and it plans to grow and strengthen these portfolios with this new fund. Pre-seed and seed opportunities are given more attention.

Startups in the aerospace and defense industries like Sagar Defence, ePlane, Ideaforge, and Nabhdrishti have previously received funding from IIMA Ventures. Its portfolio also includes space-tech businesses like Bellatrix, Agnikul, PierSight, and Galaxeye.

IIMA Ventures claims that the fund is not set up as an Alternative Investment Fund (AIF) and that it was established using balance sheet funds from both IIMA Ventures and Jaivel Aerospace. They are in discussions with other corporates to join the initiative and intend to gradually increase the fund's size.

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Jaivel Aerospace was established in 2016 by Vipul Vachhani with the goal of improving the performance of advanced manufacturing programs by designing and developing novel systems, processes, and goods. It offers solutions in intelligent manufacturing, product engineering, and design to major clients like Rolls-Royce and Boeing.