Ethereal Machines, the Bengaluru-headquartered deeptech startup operating in the precision manufacturing space, has raised $28.5 million in a Series B funding round led by Avataar Ventures, with participation from Peak XV Partners and other investors.
The company plans to use the fresh capital to expand its manufacturing facility, strengthen its software stack, advance technology development, build capabilities for the semiconductor sector, and support global expansion.
Founded in 2014 by Kaushik Mudda and Navin Jain, Ethereal Machines designs, builds, and operates proprietary multi-axis CNC machines.
Through its Machining-as-a-Service (MaaS) model, Ethereal serves global clients across the aerospace, defence, healthcare, semiconductor, and consumer electronics sectors from its smart factory in Peenya, Bengaluru.
“The world is actively looking for resilient alternatives in global manufacturing, and India has a once-in-a-generation opportunity to emerge as a serious deep-tech manufacturing powerhouse.
