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NG Electro Products, a contract manufacturing platform focused on consumer goods, has secured INR 150 crore in funding from JM Financial Private Equity and family offices. The investment will be utilised to expand manufacturing capacity, strengthen research and development capabilities, and enhance quality and compliance infrastructure. The company serves consumer brands across home care, beauty and personal care, and nutraceutical segments. The investment was made through JM Financial India Growth Fund III, which targets multiple sectors including consumer, manufacturing, and technology. The funding reflects investor interest in scalable contract manufacturing platforms catering to evolving consumer product demand and product innovation requirements.
Mumbai-based NG Electro Products has raised INR 150 crore from JM Financial Private Equity and a group of family offices, as the consumer goods-focused contract manufacturing firm looks to expand its production capabilities and strengthen its product development infrastructure. Advertisement
The funding, announced in the past week, will be deployed towards increasing manufacturing capacity, accelerating investments in research and development, and enhancing quality and compliance systems. The company operates as a contract manufacturing platform, catering to consumer brands across segments such as home care, beauty and personal care, and nutraceuticals.
According to the company, the capital infusion will support its efforts to scale operations in response to growing demand from consumer brands seeking outsourced manufacturing solutions. Founder and managing director Piyush Mittal indicated that the investment would enable the company to expand its production footprint and further develop its product innovation capabilities.
JM Financial Private Equity has made the investment through its JM Financial India Growth Fund III, a sector-agnostic fund that focuses on opportunities across financial services, consumer, manufacturing and technology sectors, along with areas such as logistics, healthcare and agri-allied businesses. The fund has been actively deploying capital across multiple platforms in recent years.
Vinit Rai, managing director at JM Financial Private Equity, stated that NG Electro Products has developed a differentiated position within the contract manufacturing space for consumer products over time. He indicated that the company's platform approach and sector focus have enabled it to build capabilities aligned with evolving market requirements.
The investment adds to the portfolio of JM Financial India Growth Fund III, which has backed companies such as API Holdings, Bighaat Agro, Silveredge Technologies, Energy Beverages, Modish Tractoraurkisan, Asquare Foods and Beverages, and The Bear House. The fund has also completed a full exit from Aarman Solutions.
NG Electro's business model aligns with a broader industry trend in which consumer brands increasingly rely on specialised contract manufacturers to manage production, ensure quality compliance, and support faster product development cycles. This has led to the emergence of integrated manufacturing platforms that combine scale with innovation capabilities.
With the latest funding round, NG Electro is expected to focus on strengthening its operational infrastructure and expanding its manufacturing base, while continuing to support consumer brands with end-to-end production solutions across multiple product categories.
Source - PTI
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