Karnataka: Aequs Raises Rs 448 crores From Amansa Capital, Murthy's Catamaran And Others For Expanding Contract Manufacturing Footprint

Aequs, a contract manufacturing partner for global OEMs and domestic players across the aerospace, toys, and consumer durable goods domains, has raised $54 million (Rs 448 crore) in an equity funding round led by Singapore-based Amansa Capital.

The funding round also saw participation from Steadview Capital, Catamaran, the family office of Infosys founder N. R. Narayana Murthy, Sparta Group, the investment office of Desh Deshpande (U.S based venture capitalist and founder of Sycamore Networks), Amicus Capital, and a set of individual investors. 

Aequs said it would use the growth capital to launch a new Advanced Technology Products (ATP) vertical to manufacture high-precision components for some world-renowned consumer electronic companies.

In April 2023, Aequs announced that it had raised over Rs 200 crores from Amicus Capital and existing investors to expand its contract manufacturing footprint.

Aequs has set up fully integrated manufacturing operations across three clusters: Belagavi Aerospace Cluster (BAC), Koppal Toys Cluster (KTC), and (Hubballi Durable Goods Cluster (HDC), all located in North Karnataka.

Consume Durable Cluster At Hubballi

After setting up a toy cluster, Aequs Infra established India’s first consumer durable goods cluster in Hubballi, Karnataka.

Spread over 400 acres, the Hubballi Durable Goods Cluster (HDC) is envisioned as a fully integrated, self-sustaining ecosystem catering to the durable goods industry’s manufacturing infrastructure requirements.

The cluster offers co-located capabilities and seamless access to manufacturing infrastructure and solutions from product design to product realisation and distribution and logistics to retailers and affiliates across the globe.

It is set up on nearly 4.5 million sq ft of factory area and other facilities.

When fully functional, the cluster will provide shared facilities to the forms, including Warehouse and Logistics, Skill Development, Free Trade Zone, and Vendor zone along with WTO, STP, Power and water distribution within the Campus, Common Multi Amenity centre housing, Occupational Health Center, Creche, Canteen, Backup power, Transport facility and Dorms & quarters for the staff and workers.

HDC aims to provide complete ease of doing business for consumer durable goods manufacturers at the cluster and will offer all manufacturing solutions at one go.

Toy Cluster At Kopal

Aequs infra had set up the Koppal Toy Cluster (KTC) in Karnataka.

Spread over 400 acres, the Koppal Toy Cluster is designed to house an entire Toy Manufacturing Ecosystem to support toy manufacturers, suppliers, and vendors across the toy value chain.

The Toy cluster aims to bring together in-campus business support services, including social infrastructure and residential accommodation, to support the workforce.

The cluster will include raw material suppliers, shared infrastructure such as plug-and-play industrial sheds, research and development, design and prototyping, testing, training, quality certification, customs, ancillary industries, service providers, etc.

According to Aequs Infra chairman and CEO Aravind Melligeri, six toy and toy-component makers have signed MoUs with Aequs Infra, while another three players, including Viscon Polymers, a manufacturer and exporter of custom rubber moulded products, have started construction of their production facilities at KTC.