EtherealX Secures $5 Million in Funding to Revolutionize Space Launch Vehicles

Bengaluru-based space technology startup EtherealX has raised $5 million in a funding round led by YourNest, an early-stage venture capital firm. This round also saw participation from BIG Global Investments, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures, among others. The fresh capital injection is set to propel EtherealX’s ambitious plans to develop reusable launch vehicles for satellites.

Investment Focus on Engine Development and Test Facilities

The funds will primarily be used to develop engines that will power EtherealX's fully-reusable medium-lift launch vehicle. Chief executive Manu J Nair stated, “The funds from this round will be utilised 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.”

Innovative Space Solutions from Bengaluru

Founded in 2022 by Manu J Nair, Shubhayu Sardar, and Prashant Sharma, EtherealX aims to revolutionize the space transportation industry with its cutting-edge technology. The startup is poised to play a pivotal role in the rapidly growing Indian spacetech sector, which secured $126 million in funding in 2023, up from $118 million in 2022 and $37.6 million in 2021, according to data from Tracxn.

Support from Esteemed Investors

Ranjeet Shetye, venture partner at YourNest, expressed strong support for EtherealX, stating, “In our continued commitment to India’s deeptech startup ecosystem, we are unanimous that EtherealX represents the focused convergence of all the values that we seek in daring founders who challenge the status quo.”

Preetinder S Panjrath, chief financial officer at BIG Capital, added, “Having backed several successful space ventures globally, we envision EtherealX will transform the space transportation industry with its launch vehicles that can turn around in hours for their next mission, enabling advancements in verticals from agriculture to space mining and outer space.”

A Promising Future for EtherealX

EtherealX had previously raised its first institutional funding from investors such as Campus Fund, BlueHill Capital, and Riceberg Ventures, as reported by ET on February 5. With the new funding round, the startup is well-positioned to advance its technology and bring its vision of reusable space launch vehicles closer to reality.