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Pune-based Allygrow Technologies has acquired AE Automotive Elements headquartered in Germany and the engineering services arm of Ranal, a US headquartered company for an undisclosed amount. Ranal has delivery centers in the US and India in Bangalore and Pune.

The acquisitions are done in a bid to strengthen Allygrow’s product offering. With this, Manfred Weissensteiner, CEO of AE Automotive Elements will take over as COO of Allygrow.

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Allygrow CEO, Prashant Kamat said, “The investments in the two companies will help us build upon the complementary strengths of each entity and create a comprehensive service portfolio spanning across concept engineering to manufacturing support for customers globally. Furthermore, in terms of top line, these acquisitions have enabled Allygrow to reach around the $15 Mn mark in less than 6 months.”

Founded in August 2015 by former Mahindra Engineering Services CEO, Prashant Kamat, Allygrow, is a technology-driven company focused in core engineering design, development and manufacturing engineering services for the automotive, aerospace, hi-tech, medical devices and heavy industries.

Allygrow had raised $20 Mn in August 2015 in a round led by Zodius Technology Fund.


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