Lokesh Machine Raises $2 Million
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Hyderabad: Hyderabad based Lokesh Machines, a small-sized machine tolls maker, raised $2.08 million fund from IFCI VC Funds. Incorporated in 1983, Lokesh Machine started its commercial production in 1986. It is affianced in design, development and supply of machine tolls, jigs, fixtures and accessories needed for precision engineering. The company has till date built over 500 Special Purpose Machines of companies like Ashok Leyland, Bajaj Auto, Bajaj Tempo, TATA Motors, Escorts, Mahindra and Mahindra and others. The company also entered the Auto Component Segment by setting up lines of Machines for manufacture and supply of Cylinder Blocks for Mahindra and Mahindra for their Tractor, Jeep and Scorpio divisions. IFCI VC Funds was set up in 1975 by IFCI as Risk Capital Foundation with a motive to widen the entrepreneurial bas by providing startup capital for setting up Green Field projects. Since its inception, it has funded over 400 entrepreneurs.

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