Bengaluru-based EtherealX raises $20.5 million, now valued at $80.5 million
Space startup EtherealX just bagged $20.5 million in Series A funding, bumping its valuation up to $80.5 million.
The round was led by TDK Ventures and BIG Capital, with backing from Accel, Prosus, YourNest, BlueHill, Campus Fund, and Riceberg Ventures.
What's EtherealX building?
EtherealX is shaking up space launches with its Razor Crest Mk-1 rocket—a medium-lift vehicle the company says is designed to be fully reusable and aims to recover both its booster and upper stage.
This tech could make launching satellites to Low Earth Orbit (LEO) or Geostationary Transfer Orbit (GTO) way more efficient.
What's next for them?
The new funds will help qualify their Stallion engine, test the Pegasus upper-stage engine, and grow the team from 67 to 90 people.
EtherealX has signed launch memoranda of understanding totaling around $130 million with customers for future launches—including SpaceBD and TASA—and aims for commercial flights by 2028.
By the numbers
Razor Crest Mk-1 can carry up to 24.8 tons to LEO in expendable mode or eight tons when fully reusable—at prices ranging from $350 to $2,000 per kg depending on how much of the rocket is reused.
EtherealX said hot-fire engine tests are targeted for mid-2026; a demo flight is planned for late 2027.