India space industry

Hical secures Premji investment for India manufacturing expansion

The Bengaluru space-components supplier raised a reported $30–40 million in growth equity; manufacturing, engineering and research will receive the funds.

08 November 2026 at 3:11 pm ISTBy Industry Desk2 min read

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AI illustration: Generic motor, actuator and precision-machining forms represent electromechanical manufacturing. This conceptual drawing does not depict Hical products, facilities or the investment transaction.

Hical Technologies has secured investment from Premji Invest to expand manufacturing and engineering in India. The Times of India reported on 6 November that the Bengaluru company raised $30–40 million in its first institutional funding round. An announcement carried by Aviation Defence Universe identified the transaction as growth equity.

Premji Invest confirmed its investment in a public post and listed capacity expansion at Devanahalli and Hosur, advanced manufacturing processes, design engineering, research and development, and technical training as uses of the capital. Hical is building the Hosur facility after opening a plant in Devanahalli, according to The Times of India.

Hical’s space business includes components for Indian Space Research Organisation launch vehicles and satellites, The Times of India reported. In a separate January 2024 company post, Hical stated that its actuators were used across the stages of the PSLV-C58 rocket that launched the XPoSat astronomy satellite. That hardware statement is the company’s account.

The amount remains reported at different levels of precision: The Times of India and Aviation Defence Universe give $30–40 million, while ETManufacturing gives $35 million. The investor’s public post does not specify an amount. The Times of India reported that Hical did not disclose its valuation or the stake acquired by Premji Invest.

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