EtherealX, a startup that designs and develops next-gen space launch vehicles, has secured $5 million in a seed funding round led by YourNest, with contributions from BIG Global Investments JSC, BlueHill Capital, Campus Fund, and others.
The funding will be used to develop engines for EtherealX’s fully reusable medium-lift launch vehicle, according to a release.
Founded in 2022 by former ISRO engineers Manu J Nair (CEO), Shubhayu Sardar (COO), and Prashant Sharma (CTO), Bengaluru-based EtherealX aims to transform space transportation with its Razor Crest Mk-1 vehicle.
Unlike SpaceX’s Falcon 9, which provides partial reusability by bringing its booster back to Earth after a launch, EtherealX is designing vehicles to get both the upper stage and booster back, said the the release.
Razor Crest Mk-1 promises complete reusability, capable of launching 8 tonnes into lower Earth orbit. It can also carry payloads of over 24.8 tonnes into the lower Earth orbit in a disposable configuration and 22.8 tons in a partially reusable configuration, it added.
The vehicle is also designed to deliver payloads into geostationary transfer and trans-lunar injection orbits.
Spacetech investments gain momentum
In June, YourNest Venture Capital made its first investment in the spacetech vertical with a
funding of $1.5 million, as part of the $5-million round raised recently by Ethereal Exploration Guild, a
Bengaluru-based launch vehicle company.
Earlier this month, spacetech startup GalaxEye Space bagged $6.5 million as part of a Series A funding round, co-led by Mela Ventures and Speciale Invest. The round also saw participation from ideaForge, Rainmatter, Navam Capital, Faad Capital, and Anicut Capital.
