Bengaluru-based manufacturing startup specializing in deeptech solutions Ethereal Machines has successfully raised $7.3 million in funds led by Peak XV Partners’ Surge and Blume Ventures, where notable angel investors, including Ganapathy Subramaniam from Celesta Capital, Mathew Cyriac, former head of Blackstone India, and Lip-Bu Tan, executive chairman of Cadence Design Systems and chairman of Walden International also participated.
Automating Precision Engineering with CNC Machines
Founded in 2014 by Mudda and Navin Jain, Ethereal Machines manufactures computer numerical control (CNC) machines. These machines facilitate the automation of movement and operations of machine tools through computerized data, streamlining the manufacturing processes for their clients. The startup’s proprietary technology empowers its machines to produce precision engineering components that cater to industries such as aerospace, defense, automobile, and healthcare.
Expanding Operations with the New Funding
Ethereal Machines plans to utilize the newly raised funds to establish factories across India. By scaling its operations, the startup aims to meet the growing demand for high-end engineering applications both domestically and internationally. Kaushik Mudda, co-founder of Ethereal Machines, expressed his excitement about the funding, emphasizing its significance in helping the company expand its reach and capabilities.
Deeptech Startups Driving Automation Across Industries
In recent times, deeptech startups have emerged as significant players in driving automation across various sectors. ZestIoT, a deeptech startup, secured $6.5 million to leverage AI-driven automation for reducing aircraft turnaround time. Another deeptech player, Doppelio, received $1.2 million to provide device virtualization, simulation, and test automation features, enabling clients to conduct comprehensive testing with speed while reducing reliance on field trials. Additionally, AI deeptech startup WorkHack obtained $1.5 million to assist enterprises in deploying AI technology.
Ethereal Machines’ Commitment to Streamlining Manufacturing Processes
Ethereal Machines’ innovative solutions in deeptech manufacturing have earned it substantial funding, enabling the company to expand its operations and cater to diverse industries. With its cutting-edge CNC machines and focus on precision engineering, Ethereal Machines aims to revolutionize the manufacturing ecosystem, ultimately driving further advancements in automation and enhancing productivity across industries.
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