Hical Technologies Raises $30-40 Million From Premji Invest in First Institutional Funding

Hical Technologies, a Bengaluru-based manufacturer of aerospace and defence components, has raised USD 30-40 million in growth equity from Premji Invest. The company said on Friday that this is its first institutional investment in nearly four decades.

The funds are earmarked for capacity expansion across South India, including a new manufacturing facility in Hosur, Tamil Nadu, and for strengthening engineering and research and development (R&D) operations. Capital will also go toward high-precision machinery, vertically integrated manufacturing and specialised aerospace production processes, as well as engineering, product development, specialised talent and the quality systems needed to meet the qualification, traceability and production standards of global aerospace programmes.

Founded in 1986, Hical makes electromechanical components and systems for global aerospace and defence original equipment manufacturers. Its portfolio includes actuators, motors, solenoids, transformers and integrated electromechanical systems used in fighter aircraft, commercial aviation, naval platforms, defence applications and space programmes. It supplies Dassault Aviation for the Rafale fighter aircraft programme and manufactures more than 1,000 different part numbers used in Boeing and Airbus commercial aircraft and business jet applications.

Yashas Jaiveer, Managing Director of Hical Technologies, said: "For nearly four decades, we have built Hical around engineering depth and manufacturing discipline, for applications where reliability is non-negotiable. Premji Invest's backing helps us accelerate the next phase of that journey." The company aims to move further up the value chain by raising the engineering and technology content of its products and taking on more complex, design-led systems.

Manoj Jaiswal, Partner at Premji Invest, said Hical has built deep engineering expertise, specialised product capabilities and long-standing relationships with global aerospace and defence customers. He sees significant potential for it to scale as global supply chains seek quality engineering and manufacturing partners in India.

Aerospace and defence manufacturers are working to diversify their supply chains and build deeper manufacturing and engineering partnerships in India, and this deal shows what that looks like on the supplier side. A component maker with long-standing OEM relationships is receiving growth equity, and the money is directed at the things OEM programmes screen for: qualification, traceability, production standards and engineering content, not just additional shop-floor volume.

For business aviation, the relevance is indirect but real. Components of this kind sit deep in the supply chain behind commercial and business jet programmes, where schedule pressure and single-source exposure make a wider qualified supplier base valuable to OEMs. A supplier that adds precision machinery, vertical integration and in-house design capability becomes a more credible candidate for complex, design-led work, which is the direction Hical itself says it intends to take.

The nearest milestone is physical: the new Hosur facility and the expanded engineering and R&D operations. Whether the added capacity converts into additional OEM programme awards will show in the supplier's customer announcements, and those announcements will say more about the investment's effect than the funding round itself.