VC Fund Investments
Engg hardware maker Ethereal Machines raises $13-M from Peak XV, Steadview Capital, others
Bengaluru-based ?engineering hardware maker Ethereal Machines has raised USD 13 million in a Series A round led by ?Peak XV Partners ?and ?Steadview Capital? along with participation from existing investors ?Blume Ventures?, Enam Investments and Sandeep Singhal.The firm plans to use the capital for research and development (R&D) and to build its second 'smart factory' facility, spanning 250,000 square feet in Bengaluru. It also plans to build India’s first multi-axis CNC controller.Founded in 2014 by Kaushik Mudda and Navin Jain, Ethereal Machines uses multi-axis CNC machines to produce precision engineering components in a cost-effective manner. The company serves the aerospace, healthcare, and consumer electronics industries. It has also launched two machines, Aura and Nimbus, to achieve sub-10 micron accuracy for manufacturing precision components.
Between Jan 2019 and Jul 2023, Ethereal Machines had raised over USD 8.3 M from Peak XV Partners, Blume Ventures, Venture Catalysts Angels and other angels
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