Indian space startup EtherealX has secured $5 million in seed funding to develop fully reusable medium-lift launch vehicles, aiming to make satellite launches more cost-effective and time-efficient.
Space launches have surged recently, but costs and waiting periods remain high. For example, SpaceX launches are fully booked until 2026, even with a ride-sharing model. EtherealX intends to address this by developing a fully reusable medium-lift vehicle, reducing transportation costs and launch times. Unlike SpaceX’s Falcon 9, which partially reuses its booster, EtherealX aims to recover both the upper stage and booster.
Founded in 2022 by CEO Manu J. Nair, former ISRO scientist Shubhayu Sardar (COO), and aerospace engineer Prashant Sharma (CTO), the Bengaluru-based startup plans to rival SpaceX with its Razor Crest Mk-1 vehicle. This vehicle is designed to be fully reusable, capable of putting 8 tons into lower Earth orbit. In an expendable configuration, it can deliver over 24.8 tons, and in a partially reusable setup, 22.8 tons. The vehicle can also handle payloads for geostationary transfer and trans-lunar injection orbits.
EtherealX’s approach involves a novel rocket engine cycle and deployment system, allowing efficient operation in both vacuum and atmosphere and enabling pinpoint landings. This method contrasts with conventional heat management techniques, such as heat tiles. The startup plans to offer launch costs between $350 and $2,000 per kilogram, significantly lower than current prices, including those of Falcon 9.
The company has acquired 16 acres in Tamil Nadu to develop India’s largest privately developed rocket engine facility. EtherealX’s plan includes testing its technology through a demonstrator vehicle (TDV) in 2026. This TDV, measuring 35 meters tall and 2.5 meters wide with a 1.2-ton capacity, will validate telemetry and flight software.
EtherealX has identified 35 potential customers for its 2026 launch and plans to start with 10–15 customers. The Indian space ecosystem has grown significantly, with 229 space tech startups as of the latest government data. India aims to quadruple its share in the global space market by 2030, driven by new policies and successful missions.
The seed funding round, led by YourNest, also included BIG Capital, BlueHill Capital, Campus Fund, SGgrow, and Golden Sparrow Ventures. EtherealX plans to use the funds for engine test firings and developing its test facility and engines.
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