Because the hiragana ends with an う sound, you know this word is a verb. The kanji itself means hoist. This strange word means to hoist, to fly, to raise, and (most importantly) to deep fry. The hoisting part usually has to do with hoisting or raising a flag, or something similar.
Remember the other "to raise" vocabs? They are all あげる as well. For example, 上げる is あげる and 挙げる is あげる as well.