In a significant boost to the deeptech-based manufacturing sector, Ethereal Machines, a pioneering startup in precision manufacturing, has successfully closed a $13 million Series A funding round. Co-led by Peak XV Partners and Steadview Capital, this funding infusion underscores investor confidence in Ethereal Machines’ innovative approach and underscores its commitment to expanding its footprint in the precision manufacturing landscape.
Strategic Investment
The Series A funding round, which also witnessed participation from existing investors including Blume Ventures, Enam Investments, and Sandeep Singhal, co-founder and managing partner of WestBridge Capital, marks a pivotal moment in Ethereal Machines’ growth journey. The fresh capital injection will be channeled towards advancing research and development initiatives, particularly in the realm of multi-axis computer numerical control (CNC) technology, and initiating the construction of a state-of-the-art smart factory in Bengaluru.
Expansion Plans
Ethereal Machines is poised to set new benchmarks in precision manufacturing with the establishment of its second smart factory, spanning an impressive 250,000 square feet. Situated on the outskirts of Bengaluru, adjacent to the upcoming Foxconn facility, this facility will serve as a testament to India’s burgeoning prowess in advanced manufacturing. With a focus on aerospace, medical, and consumer electronic components, Ethereal Machines aims to revolutionize the industry landscape by delivering high-quality, cost-effective precision components.
Innovation and Growth
Founded in 2014 by Kaushik Mudda and Navin Jain, Ethereal Machines has emerged as a trailblazer in the realm of deeptech manufacturing. The company’s expertise lies in building proprietary multi-axis CNC machines, coupled with a strong focus on rapid prototyping. The inauguration of its first Smart Factory in Peenya, Bengaluru, earlier this year marked a significant milestone, bolstering Ethereal Machines’ production capacity and operational efficiency.
Global Reach and Impact
Ethereal Machines’ impact extends far beyond Indian shores, with its clientele spanning across the United States, Europe, Israel, and India. By leveraging cutting-edge technology and a commitment to precision, the company has garnered acclaim for its ability to transform engineering drawings into physical parts with unparalleled accuracy. The recent launch of Aura and Nimbus, two innovative machines, underscores Ethereal Machines’ commitment to pushing the boundaries of precision manufacturing.
Future Trajectory
As Ethereal Machines embarks on its next phase of growth, fueled by the recent funding infusion, the company remains steadfast in its mission to elevate India’s stature as a global leader in precision manufacturing. With a focus on innovation, quality, and operational excellence, Ethereal Machines is poised to redefine industry standards and drive sustained growth in the dynamic landscape of deeptech manufacturing.
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