Rocket-Making Startup EtherealX bags First Institutional Funding

A Spacetech startup that generates develops & builds next-generation launch vehicles and spacecraft, EtherealX has lifted its first institutional funding from Campus Fund, BlueHill Capital & Riceberg Ventures.

As reported by Economic Times, the profits from funding will be utilized for startup’s 40 kilonewton - a privately developed semi-cryogenic rocket engines.

Established in 2022 by Shubhayu Sardar, Manu Nair & Prashanth Sharma, EtherealX endeavors to make reusable rockets that bring both the stages of the rocket back into earth after flight. Presently, Elon Musk’s SpaceX is the only main rocket maker that operates orbital launches commercially using reusable rockets, mainly in the medium-lift & heavy-lift category.

Among these, the startup’s other plan is Razor Crest Mk-1 which is working on a mission to be the first fully reusable medium-lift launch vehicle in the world. The model is intended to dispatch the payloads of up to 24.8 tonnes to the LEO (Lower Earth Orbit) in dispensable pattern, 22.8 tonnes in partly reusable configuration and 8 tonnes in completely reusable configuration to 400 kilometers LEO.

Previous month, Campus Fund announced its second funding of Rs. 75 crore - about $9 million which was oversubscribed by 37 percent.

Over the past few years, quite a lot of spacetech startups including Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara & InspeCity have managed to raise decent funding.