JSA Advises Peak XV Partners on USD 28.5 million Series B investment in Ethereal Machines
JSA advised on the investment documentation and transaction aspects for the funding round.
JSA advised Peak XV Partners Investments VIII in relation to the Series B investment into Ethereal Machines Pr4ivate Limited, involving an investment of approximately USD 28.5 million.
JSA Advocates & Solicitors (JSA) advised Peak XV Partners Investments VIII in relation to the Series B investment into Ethereal Machines Private Limited, a deep-tech manufacturing company, involving an investment of approximately USD 28.5 million by AVP Fund III, Peak XV Partners Investments VIII and other investors.
Deep-tech manufacturing startup Ethereal Machines has raised $28.5 million in a Series B funding round led by Avataar Ventures, with participation from existing investor Peak XV Partners and others, as the company looks to deepen India’s capabilities in advanced precision manufacturing.
The Bengaluru-based company will use the fresh capital to expand manufacturing capacity, develop India’s first domestic multi-axis CNC controller, strengthen its software stack, and accelerate international expansion across the United States and Europe.
The fundraising comes nearly two years after Ethereal Machines raised $13 million in a Series A round in June 2024. Since then, the company has tripled its Machining-as-a-Service (MaaS) revenue and expanded production capacity tenfold across its smart factory operations.
The transaction involved JSA advising on the investment documentation and transaction aspects for the funding round.
The JSA team was led by Minhaz Lokhandwala, Partner, with support from team members Maitri Parekh, Counsel and Akarsh Aryan, Associate.