EtherealX raises $20.5 million to launch its 1st rocket
EtherealX, a young Indian space startup, just bagged $20.5 million in Series A funding led by BIG Capital—pushing its valuation up to $80 million.
The fresh funds are set to fast-track the company's big goal: launching its fully reusable Razor Crest Mk-1 rocket for commercial missions, with no launch date specified.
Funding round in brief
BIG Capital put in the largest chunk ($6 million), with TDK Ventures close behind ($5 million).
YourNest and BlueHill Capital also joined in, along with Campus Fund, Accel, Prosus, Riceberg Ventures, and Kicksky Lab.
Altogether, this round brought in nearly ₹87 crore so far.
Razor Crest Mk-1 will be fully reusable
Razor Crest Mk-1 is designed to recover both its booster and upper stage—pretty rare for rockets!
Depending on how much is reused, it can carry between 8 and almost 25 tons to orbit.
The new funding will help EtherealX continue engine testing; test and demo-flight timing not specified.
No revenue yet for the startup
EtherealX hasn't started making revenue yet—it reported a small non-operating income but posted a ₹4.2 crore loss last year.
Founded in 2022, the team still holds significant stakes as they work toward shaking up India's space scene with their innovative tech.