In a Series A round-headed by Peak XV Partners and Steadview Capital, advanced manufacturing firm Ethereal Machines has raised $13 million.
The money raised will be used for research and development, the construction of a second smart factory, and the creation of multi-axis CNC controllers. On the outskirts of Bengaluru, this new facility will occupy 250,000 square feet of space.
Read also – Electronics Startup Indkal Secures $36 Mn Funding in Series A Round
Participating in this round were Blume Ventures, Enam Investments, and Sandeep Singhal, three previous investors.
Indian, European, Israeli, and American clients are served by Ethereal. In the space-tech, drone, medical diagnostic, and thermal imaging industries, among many other growing deep-tech businesses, the company claims to have produced precise components.
Ethereal Equipment uses its in-house multi-axis CNC equipment to manufacture precision engineering components. Precision engineering components can be produced quickly and economically thanks to its machineries.
Ethereal’s manufacturing solutions are said to save customers’ costs by 30% on average and their production lead times by 40%. Additionally, the company unveiled Aura and Nimbus, two brand-new devices.
About Ethereal Machines
Founded in 2014 by Ethereal Machines is recognised for 3 and 5-axis CNC machining services. We specialize in 5-axis CNC technology and provide advanced manufacturing solutions across the aerospace, healthcare, and electronics components.
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