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Allygrow Acquires Automative Elements and Ranal

Allygrow Technologies, a startup that deals with the design, development and manufacture of engineering services acquired AE Automative Elements another development firm and also Ranal which is also an engineering company. The surprising part of the news is that Allygrow is just a six month old company that serves automotive, medical services, aerospace and other heavy industries. The company had raised a twenty million funding last year. With the new developments, it is expected that the company will have a good demand in the European market. Both the companies will play a considerable part in the growth of Allygrow as Automative Elements have many huge clients, and Ranal would enhance the competency of engineering services.

What lies ahead for Allygrow?

Just like Tesla and SpaceX, there is an immense potential for exponential growth for automobile and aerospace industries. Allygrow is expected to make revenue of 100 million dollars in the next five years and are working on expanding their domains. They focus on providing quality engineering services, as whatever sectors grow in the coming years; engineering services will always play an integral part in any business. Prashant, CEO of Allygrow Technologies, 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”. It is a matter of pride and honor that Indian companies which were earlier famous only as outsourcing destinations is now emerging with businesses capable of global acquisitions.

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