Bengaluru based Ethereal Machines closed a ₹264 crore Series B led by Avataar Venture Partners, at a ₹1,470 crore valuation —4X from its 2024- Peak XV Partners and Novellus Systems also co-invested in the round.
Ethereal -a CNC machine maker that claims to cut production time by 40% and costs by 30% through its proprietary multi-axis tech. Indian companies typically have been long relying German and Japanese industrial machines which is what Ethereal looked to solve by providing a high precision domesctic alternative for growing Indian machine tool market.
The fundraise will help in its planned mega-factory in Bengaluru to meet rising domestic and global demand for precision components.
