Bengaluru-based engineering hardware startup Ethereal Machines raised $7.3 million (over ₹59.80 crore) in a funding round. Peak XV Partners's Surge participated in the round. The startup makes CNC machines, which use proprietary tech to manufacture engineering parts at cheaper rates. Navin Jain and TEDx speaker Kaushik Mudda, who co-founded the firm, featured on Forbes Asia 30 Under 30 list, 2019.