Ethereal Machines secures $28.5 million in Series B funding at a nearly 4x valuation jump to $158 million.
The round was led by Avataar Ventures, with continued support from Peak XV Partners and Novellus Systems.
Capital will fund a 300,000 sq ft mega-factory near Bengaluru and scale its AI-driven factory software, Vesper.
The startup aims to replace expensive foreign multi-axis CNC imports while capturing global demand driven by China+1 supply chain shifts.
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