Ethereal Machines Revolutionizing Precision Manufacturing
June 14, 2024, 3:36 pm
Location: India, Karnataka, Bengaluru
Employees: 11-50
Founded date: 2014
Total raised: $20.3M
Ethereal Machines, a cutting-edge manufacturing startup, recently secured a whopping $13 million in Series A funding from Peak XV Partners and Steadview Capital. This funding will fuel their research and development efforts, the construction of a state-of-the-art smart factory, and the development of multi-axis CNC controllers.
Founded a decade ago by the dynamic duo Kaushik Mudda and Navin Jain, Ethereal Machines specializes in using their innovative multi-axis CNC machines to produce precision engineering components. These components are not only manufactured quickly but also economically, thanks to their advanced technology.
Operating in markets across India, Israel, the USA, and Europe, Ethereal Machines has become a go-to solution for emerging deep-tech businesses in sectors like space-tech, drones, medical diagnostics, and thermal imaging. Their manufacturing solutions have been proven to save customers up to 30% in costs and reduce production lead times by a staggering 40%.
The recent unveiling of their new devices, Aura and Nimbus, showcases Ethereal Machines' commitment to pushing the boundaries of precision manufacturing. With a revenue increase of fourfold and a production capacity boost of threefold in the past year, this startup is on a rapid growth trajectory.
In a strategic move, Ethereal Machines plans to build India's first multi-axis CNC controller and expand their production capabilities with a new 250,000 square feet smart factory in Bengaluru. This expansion aligns perfectly with India's push for local manufacturing under initiatives like Make in India and the production-linked incentive scheme.
With a focus on strengthening India's GDP, infrastructure, and global competitiveness, Ethereal Machines is poised to lead the charge in precision manufacturing. Their dedication to innovation and commitment to quality has garnered the support of investors like Peak XV and Steadview Capital, who see the immense potential in Ethereal's vision.
As the manufacturing landscape in India evolves, Ethereal Machines stands at the forefront, ready to shape the future of precision engineering. With a track record of success and a clear roadmap for growth, this startup is set to revolutionize the industry and solidify its position as a key player in the global market.
Founded a decade ago by the dynamic duo Kaushik Mudda and Navin Jain, Ethereal Machines specializes in using their innovative multi-axis CNC machines to produce precision engineering components. These components are not only manufactured quickly but also economically, thanks to their advanced technology.
Operating in markets across India, Israel, the USA, and Europe, Ethereal Machines has become a go-to solution for emerging deep-tech businesses in sectors like space-tech, drones, medical diagnostics, and thermal imaging. Their manufacturing solutions have been proven to save customers up to 30% in costs and reduce production lead times by a staggering 40%.
The recent unveiling of their new devices, Aura and Nimbus, showcases Ethereal Machines' commitment to pushing the boundaries of precision manufacturing. With a revenue increase of fourfold and a production capacity boost of threefold in the past year, this startup is on a rapid growth trajectory.
In a strategic move, Ethereal Machines plans to build India's first multi-axis CNC controller and expand their production capabilities with a new 250,000 square feet smart factory in Bengaluru. This expansion aligns perfectly with India's push for local manufacturing under initiatives like Make in India and the production-linked incentive scheme.
With a focus on strengthening India's GDP, infrastructure, and global competitiveness, Ethereal Machines is poised to lead the charge in precision manufacturing. Their dedication to innovation and commitment to quality has garnered the support of investors like Peak XV and Steadview Capital, who see the immense potential in Ethereal's vision.
As the manufacturing landscape in India evolves, Ethereal Machines stands at the forefront, ready to shape the future of precision engineering. With a track record of success and a clear roadmap for growth, this startup is set to revolutionize the industry and solidify its position as a key player in the global market.