Ethereal Machines Private Limited has successfully raised $28.5 million in a Series B funding round led by Avataar Venture Partners. Notable participation came from existing investor Peak XV Partners, alongside Novellus Systems Inc. and other collaborators. The legal advisory for Ethereal Machines was provided by Aritra Partners, offering comprehensive support that spanned legal counsel, tax advisory, and thorough due diligence.
The team from Aritra Partners was headed by Managing Partner Sadashiva NT, with key contributions from Senior Manager Akshay Sai, Senior Principal Associate Rahul Roy, Principal Associate Abhishek Dutta, Senior Associate Sriharu Kothamachu, and Associates Pragya Vyas, Sourabh Guin, and Wilren Rebello.
JSA Advocates & Solicitors provided expert legal advice to Peak XV Partners Investments VIII concerning their investment in this funding round. The JSA team, led by Partner Minhaz Lokhandwala, with the assistance of Counsel Maitri Parekh and Associate Akarsh Aryan, focused on the intricacies of investment documentation and transaction processes.
Headquartered in Bengaluru, Ethereal Machines specializes in the development and manufacturing of proprietary multi-axis CNC machines. The company operates a Machining-as-a-Service platform that delivers high-precision components across diverse sectors including aerospace, defense, healthcare, and semiconductors.
The newly acquired funds are earmarked for the establishment of an advanced manufacturing facility exceeding 300,000 square feet, and the development of India’s first domestically produced CNC controller.
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This significant funding milestone will propel Ethereal Machines’ capabilities in delivering innovative solutions and expanding its market presence globally.
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