inYantra Technologies, an electronic design and manufacturing company, said on Monday that it has secured USD 13 million from Volex, a company located in the United Kingdom, to help support its expansion ambitions. Volex, a worldwide integrated manufacturing-services and power-products firm, has engaged in a decisive strategic collaboration with inYantra for a transaction of USD 13 million, according to a statement released here.
“The strategic alliance with Volex positions us for accelerated growth for the next five years,” inYantra Chairman Pravin Jain said.
He went on to say that the firms have created a combined business strategy based on synergies in their present operations, as well as a considerable expansion of their manufacturing presence in India and that they are aiming for multiples of revenue growth by 2027. InYantra, which specialises in the assembly of printed circuit boards and box constructions, will benefit from the agreement by gaining access to a worldwide client base, an international operational footprint, and the Volex brand’s enhanced reputation. With its enhanced wire and harness capabilities, it will also create a strong, integrated cross-sell opportunity for industrial clients in the region. The alliance will also give the company a strategic boost in its capacity to handle significant medical electronics firms, both domestically and internationally, by putting them in close proximity to one another.
“The inYantra transaction offers an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market. inYantra’s existing business, along with the imminent development of a complex cable assembly capability, will improve our customer offering, supporting low-cost manufacturing for existing and new domestic and export customers,” Volex Executive Chairman Nat Rothschild said.
Volex’s cooperation with inYantra will add new verticals and skills to the indigenous manufacturer, as well as reinforce its emphasis on two high-growth Indian sectors: medical electronics and electric vehicles.
We are now well-poised with the necessary platform to capitalize on the large-scale manufacturing opportunities presented by the Indian government’s focus on ‘Make in India’, on the export of electronics manufactured in the country, and the organic growth projections of technology consumption in India,” Jain added.
