Mumbai, Jul 25 (PTI) Computer numerical control machine manufacturer Ethereal Machines has raised USD 7.3 million (about Rs 59.77 crore) in a funding round from a clutch of investors.

Peak XV's Surge, Blume Ventures, Ganapathy Subramaniam of Celesta Capital, Mathew Cyriac, ex-Blackstone India co-head, Lip-Bu Tan, executive chairman of Cadence Design Systems and the chairman of Walden International took part in the funding round.

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Finvolve, 9Unicorns, Venture Catalysts and T2D3 Capital also participated in the round, Ethereal Machines, a Bengaluru-based startup said in a statement on Tuesday.

Founded by Kaushik Mudda and Navin Jain in 2014, Ethereal claimed that its manufacturing solutions has cut costs by 30 per cent and production lead time was reduced by 40 per cent.

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*** MSME promotion council opens Maha chapter * The MSME Promotion Council has opened its chapter in Maharashtra, which is home to almost 5 million small business units -- 8 per cent of the national count.

The council aims to assist micro, small and medium enterprises (MSMEs), which contribute almost 33 per cent of the gross domestic product, acting as an intermediary for their funding requirements.

Annually, the Centre grants Rs 120 crore to MSMEs in the state to meet their respective capital requirements.

*** ICICI Prudential's new policy offers life cover up to 100x premium * ICICI Prudential Life has launched a new protect and gain policy, offering a comprehensive life insurance cover up of up to 100 times the annual premium.

The policy provides protection against accidental death and permanent disability due to accident and market-linked returns to build long-term wealth and achieve financial goals.

The new policy enables the policyholder to maximise returns by offering 18 funds options spread across equity and debt to choose from.

Customers aged below 45 will not need to undergo medical tests for purchasing the policy, the company said in a statement.

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