Aequs, a contract manufacturing company, has secured $27.5 million (about Rs 225.50 crore) in funds from Amicus Capital and existing investors, a release said on Tuesday.
Aequs said it plans to deploy the capital from the fundraise led by Amicus in ramping up its manufacturing capabilities to cater to both domestic and multinational OEM (original equipment manufacturer) clients across the three verticals.
"Amicus Capital and existing investors have infused fresh capital to the tune of Rs 2.25 billion (USD 27.50-million) into Aequs Private Ltd," Aequs said in the release.
"The equity investment by Amicus Capital marks the first external funding into Aequs," said Aravind Melligeri, Chairman and CEO (chief executive officer) of Aequs Pvt Ltd.
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The fresh capital infusion sets the company on a new trajectory to further expand operations in the three current verticals and continue to provide manufacturing solutions to global customers, he added.
"With its marquee customer base, infrastructure and vertically integrated manufacturing capabilities, Aequs is uniquely positioned to play a significant role in India's emergence as a global manufacturing powerhouse," said Mahesh Parasuraman, co-founder and partner at Amicus Capital.
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