Ethereal Machines raises $7.3M funding from Peak XV's Surge, Blume Ventures, and others

Ethereal Machines has raised $7.3 million in funding led by Peak XV's Surge; Blume Ventures; Ganapathy Subramaniam, Partner at Celesta Capital; Mathew Cyriac, former head of Blackstone India; and Lip-Bu Tan, Executive Chairman of Cadence Design Systems and Chairman of Walden International.

The company will use the funds to scale its operations and cater to more high-end engineering applications locally and internationally.

“For India to be a superpower, advanced manufacturing is key. India needs to ace the amalgamation of both hardware and software to achieve excellence in precision machining, the foundation of large-scale industrialization and to be known as a global manufacturing powerhouse," says Kaushik Mudda, co-founder of Ethereal Machines.

"Our Machines are in a unique position to build supply chain resiliency and increase productivity across key manufacturing factors, and we’re committed to developing India’s manufacturing value chains to reach global competitiveness. ,” he added.

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Founded in 2014 by Kaushik Mudda and Navin Jain, Ethereal Machines is an Indian manufacturing company producing precision engineering components using proprietary multi-axis CNC machines. Their solutions optimise productivity and supply chain resiliency across India's manufacturing value chain.

CNC machines have been adopted by many industries for their precision milling capabilities, which produce finished parts from various raw materials.

Ethereal's CNC machines use proprietary technology to help manufacturers produce precision engineering components on a large scale, faster and more cost-effectively. On average, its manufacturing solutions save clients 30% in cost and 40% in lead time.

It focuses on providing essential precision components for aerospace, defence, automobile, and healthcare.