Ethereal Machines
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Investors
Founders
About
Ethereal Machines is a Bengaluru-based deeptech precision manufacturing startup that designs, builds, and operates proprietary multi-axis CNC machines combined with AI-powered factory software 123. Founded in 2014 by Kaushik Mudda (CEO) and Navin Jain, the company serves global clients in aerospace, defense, healthcare, semiconductors, and consumer electronics through a Machining-as-a-Service (MaaS) model from its smart factory in Peenya, Bengaluru 123. On June 11, 2026, Ethereal Machines announced a $28.5M Series B led by Avataar Ventures (₹199.55 crore / ~$21.5M), with participation from Peak XV Partners and Intel CEO Lip-Bu Tan, among others 123. The company plans to use the capital to build a 300,000 sq ft mega factory near Bengaluru, develop India’s first homegrown CNC controller, expand its AI-powered factory software platform Vesper, and build out teams in the US and Europe 123.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-06-11 | Series B | $28.5M | Avataar Ventures | Peak XV Partners, Lip-Bu Tan 123 |
What Investors Say
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What Founders Say
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Sources
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Channel I’M English, “Ethereal Machines Raises $28.5 Million Series B Funding,” June 11, 2026. Accessed June 2026. https://en.channeliam.com/2026/06/11/ethereal-machines-raises-series-b-funding-deeptech-manufacturing/↩↩↩↩↩
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ViEstories, “Ethereal Machines raises $28.5 million from Avataar Ventures, others,” June 11, 2026. Accessed June 2026. https://viestories.com/funding-alert/ethereal-machines-raises-285-million-from-avataar-ventures-others-120239↩↩↩↩↩
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YourStory, “Deeptech startup Ethereal Machines raises $28.5M led by Avataar Ventures,” June 11, 2026. Accessed June 2026. https://yourstory.com/2026/06/deeptech-startup-ethereal-machines-285-million-avataar-ventures↩↩↩↩↩