Ethereal Machines, a manufacturing startup, has raised $13 million in a Series A funding round led by Peak XV Partners and Steadview Capital. The funding round also saw participation from Blume Ventures, Enam Investments, and Sandeep Singhal. The fresh capital will be used for research and development initiatives and the construction of a second 'Smart Factory' on the outskirts of Bengaluru, adjacent to the upcoming Foxconn facility. This investment aims to support Ethereal Machines' mission to empower India to become a manufacturing superpower.
