EtherealX Raises $20.5 Mn in Series A Round

Bengaluru-based EtherealX, a spacetech startup has raised $20.5 Mn (about INR 185 Cr) in a Series A funding round led by TDK Ventures and BIG Capital.

The round also saw participation from Accel, Prosus, YourNest Venture Capital, BlueHill Capital, Campus Fund and Riceberg Ventures.

With this round, the startup’s valuation increased 5.5 times to $80.5 million.

Read also- Cybersecurity Firm CloudSEK $10 Mn in Series B round

The startup will use the funds to design and test a fully reusable launch vehicle. It plans to conduct engine hot-fire tests by mid-2026 and a technology demonstration flight in late 2027. The funds will also support development of recovery systems for the booster and upper stage, with commercial launch missions targeted from 2028.

“Our first demonstration flight is planned for 2027. By the end of 2028, we aim to start commercial launches, doing five to six missions a year and ramping up gradually,” founder Manu Nair said.

The Bengaluru-based  EtherealX is developing two in-house engines: the Stallion booster engine and the Pegasus upper-stage engine. Its main vehicle, the Razor Crest Mk-1, will use nine Stallion engines on the booster and 15 Pegasus engines on the upper stage. The rocket can carry up to 24.8 tonnes in expendable mode and around 8 tonnes in fully reusable mode.

The company operates the Base 001 test site in Tamil Nadu for upper-stage qualification. A 150 acre campus in Andhra Pradesh’s proposed space city is set to become operational by mid-2026 for full-stage testing. These facilities will support clustered engine firing tests.

Advertisment

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.