Advanced manufacturing startup Ethereal Machines raises $13 million

Ethereal Machines, an advanced manufacturing startup, secured $13 million in a Series A funding round led by Peak XV Partners and Steadview Capital, with participation from existing investors Blume Ventures, Enam Investments, and Sandeep Singhal. \r

The funding will bolster R&D efforts and expand production capacity in India, aiming to position the country as a global leader in precision manufacturing. Kaushik Mudda, Co-founder, emphasized their vision to enhance India's GDP, infrastructure, exports, and job creation through this initiative. \r

Ethereal Machines specializes in proprietary multi-axis CNC machines for aerospace, healthcare, and consumer electronics sectors. The startup recently launched a 50,000 square feet 'Smart Factory' in Bengaluru, operational round the clock with automated machines, witnessing significant revenue and production capacity growth over the past year.