Ethereal Machines to Build 300,000 Sq Ft Precision Manufacturing Mega Factory near Bengaluru
Ethereal Machines has signed a memorandum of understanding with the Government of Karnataka to set up a 300,000 sq ft mega factory on the outskirts of Bengaluru. The facility will significantly expand the company's precision CNC manufacturing capacity, with plans to scale from over 60 machines currently operational to more than 1,000 machines in future phases.
The company has raised $28.5 million (approximately ₹264.5 crore) in a Series B funding round led by Avataar Ventures, with participation from Peak XV Partners, Novellus Systems, Sustained Innovations, and Eventures India. A portion of the proceeds will be deployed toward building out the new mega factory.
Ethereal Machines currently operates a fully automated smart manufacturing unit in Peenya, Bengaluru, supplying precision components to global clients in the aerospace, defence, healthcare, semiconductor, and consumer electronics sectors through a Machining-as-a-Service model. Approximately 70 percent of its current revenue is derived from exports to the US, Europe, the UK, and Japan.
No investment quantum specific to the factory construction, project timeline, or location within the Bengaluru outskirts has been disclosed at this stage.