Ethereal Machines Secures $13M to Revolutionize CNC Manufacturing

Deeptech startup Ethereal Machines has raised USD 13 million in a funding round led by Peak XV Partners and Steadview Capital. The funds will be utilized for R&D and setting up a new facility in Bengaluru. The Series A round also saw participation from Blume Ventures, Enam Investments, and Sandeep Singhal.

In a significant move for the deeptech sector, Ethereal Machines announced on Thursday that it has secured USD 13 million in a fresh funding round spearheaded by Peak XV Partners and Steadview Capital.

The Bengaluru-based startup intends to channel these funds into rigorous research and development as well as establishing a state-of-the-art facility in the region.

Having already established its first smart factory in Peenya, this new investment will allow Ethereal Machines to further its innovation in multi-axis CNC machine manufacturing, catering to industries like aerospace, healthcare, and consumer electronics.