Ethereal Machines Secures $13M to Revolutionize CNC Manufacturing
Deeptech startup Ethereal Machines has raised USD 13 million in a funding round led by Peak XV Partners and Steadview Capital. The funds will be utilized for R&D and setting up a new facility in Bengaluru. The Series A round also saw participation from Blume Ventures, Enam Investments, and Sandeep Singhal.
![Ethereal Machines Secures $13M to Revolutionize CNC Manufacturing](https://devdiscourse.blob.core.windows.net/aiimagegallery/13_06_2024_09_16_59_2393342.png)
- Country:
- India
In a significant move for the deeptech sector, Ethereal Machines announced on Thursday that it has secured USD 13 million in a fresh funding round spearheaded by Peak XV Partners and Steadview Capital.
The Bengaluru-based startup intends to channel these funds into rigorous research and development as well as establishing a state-of-the-art facility in the region.
Having already established its first smart factory in Peenya, this new investment will allow Ethereal Machines to further its innovation in multi-axis CNC machine manufacturing, catering to industries like aerospace, healthcare, and consumer electronics.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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