Spacetech startup EtherealX has successfully raised $5 million in a seed funding round led by YourNest. The round saw participation from notable investors including BIG Global Investments JSC, BlueHill Capital, Campus Fund, Golden Sparrow Ventures, Karan Bhagat & Yatin Shah from IIFL Wealth, Kiran Shetty, and Akhilesh Agarwal.
The funds will be directed towards the development of engines for EtherealX’s fully reusable medium-lift launch vehicle, a significant step forward in their ambitious space exploration agenda.
Earlier this year, in February, EtherealX secured its first institutional funding from Campus Fund, BlueHill Capital, and Riceberg Ventures, marking the beginning of its journey in the space tech sector.
Founded in 2022 by Shubhayu Sardar, Manu Nair, and Prashanth Sharma, EtherealX is focused on creating reusable rockets that bring both stages of the rocket back to Earth after flight. Currently, Elon Musk’s SpaceX is the only major company operating commercial orbital launches with reusable rockets, particularly in the medium-lift and heavy-lift categories.
EtherealX’s flagship project, Razor Crest Mk-1, aims to be the world’s first fully reusable medium-lift launch vehicle. Designed to deploy payloads of up to 24.8 tonnes to Lower Earth Orbit (LEO) in an expendable configuration, 22.8 tonnes in a partially reusable configuration, and 8 tonnes in a fully reusable configuration to 400 kilometres LEO, Razor Crest Mk-1 represents a groundbreaking advancement in space technology.
