The round also saw participation from existing investors Bloom Ventures, Enam Investments and Sandeep Singhal.
Kaushik Mudda, co-founder of Ethereal Machines, said in a statement, “This fundraising will allow us to enhance our R&D initiatives and expand our production capacity, positioning India as a global leader in precision manufacturing "
"Our vision is to strengthen India's GDP, strengthen infrastructure, boost exports and create numerous employment opportunities, thereby leading the country to unmatched global competitiveness," he said.
The startup specializes in manufacturing proprietary multi-axis computer numerical control (CNC) machines in India and uses CNC machines to manufacture precision parts for the aerospace, healthcare and consumer electronics industries.
Shailesh Lakhani, MD, Peak
Ethereal Machines recently inaugurated its latest 'Smart Factory' in Peenya, Bengaluru spread across 50,000 sq. ft.
It operates 24x7 with multiple automated machines producing precision parts.
In the last 12 months, the startup has seen 4x growth in revenue and 3x growth in production capacity.
Kaushik Mudda, co-founder of Ethereal Machines, said in a statement, “This fundraising will allow us to enhance our R&D initiatives and expand our production capacity, positioning India as a global leader in precision manufacturing "
"Our vision is to strengthen India's GDP, strengthen infrastructure, boost exports and create numerous employment opportunities, thereby leading the country to unmatched global competitiveness," he said.
The startup specializes in manufacturing proprietary multi-axis computer numerical control (CNC) machines in India and uses CNC machines to manufacture precision parts for the aerospace, healthcare and consumer electronics industries.
Shailesh Lakhani, MD, Peak
Ethereal Machines recently inaugurated its latest 'Smart Factory' in Peenya, Bengaluru spread across 50,000 sq. ft.
It operates 24x7 with multiple automated machines producing precision parts.
In the last 12 months, the startup has seen 4x growth in revenue and 3x growth in production capacity.
