SFO Tech raises ₹750 cr funding led by Trident Growth, Amicus Capital

SFO Technologies and its subsidiaries (SFO), a leading Kochi-based electronics manufacturing services provider, has raised over ₹750 crore in a funding round led by Trident Growth Partners and Amicus Capital Partners. There was also participation from other investors, including Anicut Continuum Equity Fund and HDFC AMC Select AIF FOF-1.

 

SFO offers vertically integrated design-to-manufacturing capabilities across its 24 units in Kochi, Bangalore and Pune. It has cultivated decades-long relationships with marquee Fortune 500 clients across industrial, medical, aerospace, energy, transportation and communication sectors. The current capital-raise will be deployed to significantly expand manufacturing capacity over the next two years. It would also pursue backward integration through components manufacturing and strengthen the company’s global footprint to become a truly global EMS (electronics manufacturing services) player. 

“Beyond capital, Trident Growth Partners and Amicus Capital bring deep domestic and global relationships and shared conviction of building our company into a leading global player,” said SFO Technologies’ founder, N Jehangir. “With their support, we are poised to scale our capacity, deepen our technological capabilities.” 

India’s manufacturing sector is at an inflection point as global supply chains undergo fundamental restructuring. The electronics manufacturing services industry is evolving from a cost-driven model to one anchored in engineering sophistication, technological capability and supply-chain resilience. As geopolitical uncertainties and the need for diversification intensify, global original equipment manufacturers (OEMs) are increasingly seeking reliable partners capable of delivering high-complexity solutions with consistent quality. In this environment, Indian manufacturers with proven track records, deep technical expertise and the ability to manage stringent qualification requirements are being tapped as critical partners. This is driving a meaningful shift in India’s share of global technology manufacturing.

 

“SFO Technologies exemplifies the kind of customer-first, execution-led businesses TGP aims to back,” said Rajesh Ramaiah, managing partner, Trident Growth Partners. “They are addressing a critical need for high-complexity manufacturing with a scalable, quality-driven model and an unwavering focus on engineering excellence.”

 

This marks Trident Growth Partners’ third investment from its ₹2,000 crore maiden fund. It also underscores TGP’s commitment to partner with leading founder-led, high-growth companies across key sectors that include manufacturing, consumer, financial services, healthcare and enterprise technology.

 

The investment in SFO underlines the focus of Amicus Capital on specialty manufacturing. Amicus Capital has already made three investments in specialty manufacturing from its latest fund, including SFO Technologies, Aequs and Manipal Payment and Identity Solutions.

 

“I have known SFO Technologies and Mr Jehangir since 2006. During these years SFO has grown to be a world-class, integrated electronics manufacturing platform that serves as a one-stop shop for high-complexity design and manufacturing solutions,” said Sunil Theckath Vasudevan, partner at Amicus Capital Partners.

 

o3 Capital acted as the exclusive financial advisor to SFO on this transaction. Speaking on the transaction, T R Srinivas, managing partner at o3 Capital, said: “This transaction underscores the strength of India’s EMS ecosystem.”