Deeptech startup Ethereal Machines secured $28.5 million in a funding round led by Avataar Ventures and Peak XV, the company announced recently. The capital injection aims to accelerate the development and deployment of its advanced manufacturing technologies. This round marks a significant boost for the Bengaluru-based startup, which specializes in AI-powered industrial automation solutions.
The funding round included participation from existing investors alongside new backers Avataar Ventures and Peak XV. Ethereal Machines plans to utilize the fresh capital to expand its product portfolio and scale operations. The company’s CEO highlighted that the investment will support research and development efforts and help deepen market penetration in India and abroad.
Ethereal Machines operates in the deeptech sector, focusing on integrating AI and robotics to enhance manufacturing efficiency. This funding round places it among notable Indian startups attracting substantial venture capital in the industrial automation space. Comparable deals in the sector reflect growing investor interest in AI-driven manufacturing solutions, underscoring the market potential for Ethereal Machines’ technology.
The startup’s latest funding round follows its previous investments and sets the stage for upcoming product launches and market expansion. Ethereal Machines confirmed the $28.5 million raise in its recent corporate disclosures, underscoring its commitment to advancing industrial AI applications.