StartUp EtherealX invest total funding raised $5M seed toward fully reusable launch vehicles an innovative project.
Indian space tech startup EtherealX, that works with reusable rockets, raised $5 million in a seed-funding round, which was led by ‘Pre-Series A’ fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.
The Bengaluru-based space tech startup announced on Tuesday (Aug 6) that it will use the funds to develop engines for its proposed fully reusable medium-lift launch vehicle “Razor Crest Mk-1”.
EtherealX said that unlike SpaceX’s Falcon 9, which provides partial reusability by bringing its booster back to Earth after successful launches, the startup is designing its vehicles to get both the upper stage and booster back.
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The space tech startup was founded in 2022 by a team of ex-ISRO (Indian Space Research Organisation) scientists including CEO Manu J Nair, chief operating officer (COO) Shubhayu Sardar and chief technical officer (CTO) Prashant Sharma.
EtherealX founder-chief executive officer (CEO) Manu J Nair said, “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.”
According to reports, the launch vehicle will be designed to deliver payloads into geostationary transfer and trans-lunar injection orbits.
The startup claims that it can operate between $350–$2,000 per kilogram, a fraction of what launch vehicles including Falcon 9 currently offer and 1/35th of the global average launch price.
