Deal Corner

DEAL BRIEF

Steadview Capital Mauritius Limited (“Steadview”) participated as one of the lead investors in a USD 13 Million Series A round of funding for the manufacturing startup, Ethereal Machines Private Limited (“Ethereal”), which included other investors such as Peak XV Partners Investments VIII, Blume Ventures and Enam Investments. Ethereal specializes in deep tech and develops proprietary multi-axis computer numerical control machines and uses them to produce precision parts for the aerospace, healthcare, and consumer electronics industries.

OUR ROLE

We at Nishith Desai Associates, acted as deal counsel for Steadview and advised them on legal, tax and regulatory aspects, including negotiation and finalization of the transaction documents.

DEAL TEAM

Harshita Srivastava

Vasavi Kaparthi

MEDIA COVERAGE

https://www.thehindubusinessline.com/ companies/ethereal- machines-raises-13 -million-in- series-a-funding- round/article68284794.ece

https://economictimes.indiatimes.com/tech/ funding/deeptech- startup-ethereal-machines- raises-13-million- for-rd-smart-factory-in- bengaluru/articleshow /110967220.cms?from=mdr

https://www.cnbctv18.com/ business/companies/ ethereal-machines- bags-13-million- from-peak-xv-partners- steadview-capital -others-19427953.htm

https://www.entrepreneur.com/ en-in/news-and-trends/ethereal- machines-raises-usd-13-mn-in- series-a-led-by-peak/475589