Blume Ventures, Peak XV’s Surge led $7.3 M funding raised by Ethereal Machines
A player in advanced manufacturing, Ethereal Machines, has raised $7.3 million in a fresh round that included funding from Blume Ventures, Peak XV’s Surge, and individuals like Ganapathy Subramaniam and Lip-Bu Tan. Other investors in the round included Finvolve, 9Unicorns, Venture Catalysts, and T2D3 Capital.
According to a press release from Ethereal Machines, the additional funding will be used to construct factories all over India to produce essential precision engineering components.
Ethereal Machines is a company that produces precision engineering components using its own multi-axis CNC machines. Kaushik Mudda and Navin Jain founded it in 2014. Precision engineering components can be produced quickly and affordably thanks to Ethereal’s machinery. In India’s manufacturing value chain, the company’s manufacturing solutions maximize productivity and supply chain resilience.
The primary business of Ethereal is supplying the aerospace, defense, automotive, and healthcare sectors with critical precision engineering parts. Ethereal claims that on average, their manufacturing solutions cut costs for their clients by 30% and production lead times by 40%.
Since changing its name in June, Peak XV has made three investments. Peak XV co-led a $10 million round last month in the spacetech startup Digantara. Recently, it helped cybersecurity startup Pingsafe raise $3.3 million.
