Ethereal Machines Private Limited has raised $28.5 million from a Series B fundraise led by Avataar Venture Partners, with participation from existing investor Peak XV Partners, Novellus Systems Inc., and other investors.
Aritra Partners advised Ethereal Machines. The Firm provided end-to-end support, acting as legal counsel and delivering tax advisory and comprehensive due diligence support.
The transaction team consisted of Sadashiva NT (Managing Partner), Akshay Sai (Senior Manager), Rahul Roy (Senior Principal Associate), Abhishek Dutta (Principal Associate), Sriharu Kothamachu (Senior Associate), Associates Pragya Vyas, Sourabh Guin and Wilren Rebello.
JSA Advocates & Solicitors advised Peak XV Partners Investments VIII on their participation in this fundraise. The Firm advised on the investment documentation and transaction aspects for the funding round.
The transaction was led by Minhaz Lokhandwala (Partner), with support from Maitri Parekh (Counsel) and Akarsh Aryan (Associate).
Based in Bengaluru, Ethereal Machines develops and manufactures proprietary multi-axis CNC machines and runs a Machining-as-a-Service platform. The Company delivers high-precision components to clients worldwide in the aerospace, defense, healthcare, and semiconductor industries.
The Company will use the funds to build a 300,000+ sq. ft. advanced manufacturing facility and developing India's first domestic CNC controller.
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