Space tech startup EtherealX raises $5 million, will make reusable rockets

Over the last few years, India has made significant progress in the space tech industry

Bengaluru-based space tech startup EtherealX, which is focussing on making reusable rockets, raised $5 million in a seed-funding round, which was led by YourNest and also saw participation from BIG Global investments JSC, BlueHill Capital and others.

EtherealX will use the funds to develop engines for its proposed fully reusable medium-lift launch vehicle "Razor Crest Mk-1", the startup announced on August 6.

“The funds from this round will be utilized towards the completion of our test facility, final tests and qualification of the 40kN engine for the upper stage, and for the manufacturing of the 925kN semi-cryogenic engine,” founder-chief executive officer Manu J Nair said.

The startup said that unlike SpaceX’s Falcon 9, which provides partial reusability by bringing its booster back to Earth after successful launches, EtherealX is designing its vehicles to get both the upper stage and booster back.

The startup was founded in 2022 by a team of ex-ISRO scientists including Nair, chief operating officer Shubhayu Sardar and chief technical officer Prashant Sharma.

“Class-specific launch vehicles have always been limiting, both technologically and cost-wise. We solve this with a clear tech advantage, addressing both frequency and pricing challenges. We are thrilled our investors share this broader vision for our civilization and high-impact technology. Together, we shall recalibrate the preconceived notions of what’s possible," Manu said.

The launch vehicle would be able to launch 8 tonnes into the lower Earth orbit and carry payloads of more than 24.8 tonnes in a disposable configuration and 22.8 tons in a partially reusable configuration.

It will be designed to deliver payloads into geostationary transfer and trans-lunar injection orbits.