Spacetech startup EthereaIX scoops up $5 million in Seed Funding Round
EtherealX, a space technology startup based in Bengaluru with an emphasis on producing reusable rockets, secured $5 million in seed funding from YourNest alongside BIG Global investments JSC and BlueHill Capital among others. This newly raised capital will be utilized to design reusable rockets.
On August 6, the startup declared that it would employ the finances to create engines for its suggested fully reusable medium-lift launch vehicle - "Razor Crest Mk-1".
The founder -chief executive officer Manu J Nair stated, "Our test facility will be completed, final tests and qualification of the 40kN engine for the upper stage will take place while manufacturing funds are allocated towards our 925kN semi-cryogenic engine.”
According to the startup, EtherealX is developing vehicles that are designed to retrieve both the upper stage and booster, in contrast with SpaceX's Falcon 9 which offers limited reusability by retrieving only its booster after successful launches.
The startup was the brainchild of team of ex-ISRO scientists which came into being in 2022. The team was also included Nair, chief operating officer Shubhayu Sardar and chief technical officer Prashant Sharma.
YourNest Venture Capital made its first investment in the SpaceTech vertical by contributing $1.5 million to a recent round of funding worth $5 million for Ethereal Exploration Guild, a Bangalore-based launch vehicle company. The firm is developing the world's inaugural fully reusable medium-lift launch vehicle called EtherealX with an aspiration to solve reusability drawbacks present in regular launches that increase transportation costs and delay timeframes.
Alternatively unlike SpaceX’s Falcon 9 which ensures partial reusability through recycling its booster after successful launches, EtherealX has plans underway to reclaim both upper stages along with boosters post-launches too.
Manu exclaimed, “Class-specific launch vehicles have always been limiting, both technologically and cost-wise. We solve this with a clear tech advantage, addressing both frequency and pricing challenges. We are thrilled our investors share this broader vision for our civilization and high-impact technology. Together, we shall recalibrate the preconceived notions of what’s possible."
The newly designed vehicle will be able to send 8 tonnes into lower Earth orbit in both a disposable configuration, which can carry payloads exceeding 24.8 tonnes, and partially reusable configuration with a limit of 22.8 tons for payloads. This will be used to carry payloads into geostationary transfer and trans-lunar injection orbits.
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On August 6, the startup declared that it would employ the finances to create engines for its suggested fully reusable medium-lift launch vehicle - "Razor Crest Mk-1".
The founder -chief executive officer Manu J Nair stated, "Our test facility will be completed, final tests and qualification of the 40kN engine for the upper stage will take place while manufacturing funds are allocated towards our 925kN semi-cryogenic engine.”
According to the startup, EtherealX is developing vehicles that are designed to retrieve both the upper stage and booster, in contrast with SpaceX's Falcon 9 which offers limited reusability by retrieving only its booster after successful launches.
The startup was the brainchild of team of ex-ISRO scientists which came into being in 2022. The team was also included Nair, chief operating officer Shubhayu Sardar and chief technical officer Prashant Sharma.
YourNest Venture Capital made its first investment in the SpaceTech vertical by contributing $1.5 million to a recent round of funding worth $5 million for Ethereal Exploration Guild, a Bangalore-based launch vehicle company. The firm is developing the world's inaugural fully reusable medium-lift launch vehicle called EtherealX with an aspiration to solve reusability drawbacks present in regular launches that increase transportation costs and delay timeframes.
Alternatively unlike SpaceX’s Falcon 9 which ensures partial reusability through recycling its booster after successful launches, EtherealX has plans underway to reclaim both upper stages along with boosters post-launches too.
Manu exclaimed, “Class-specific launch vehicles have always been limiting, both technologically and cost-wise. We solve this with a clear tech advantage, addressing both frequency and pricing challenges. We are thrilled our investors share this broader vision for our civilization and high-impact technology. Together, we shall recalibrate the preconceived notions of what’s possible."
The newly designed vehicle will be able to send 8 tonnes into lower Earth orbit in both a disposable configuration, which can carry payloads exceeding 24.8 tonnes, and partially reusable configuration with a limit of 22.8 tons for payloads. This will be used to carry payloads into geostationary transfer and trans-lunar injection orbits.
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