EtherealX, an Indian space technology startup, has seen a remarkable 5.5x increase in valuation, reaching $80.5 million following its recent funding round. The company is focusing on developing a reusable launch vehicle and is in the process of conducting engine hot-fire tests in preparation for its first technology demonstration flight scheduled for 2027.
With a $20.5 million Series A funding round led by TDK Ventures and BIG Capital, EtherealX aims to revolutionize the space industry. Notable investors such as Accel, Prosus, and YourNest have also shown interest in the startup, reflecting the growing attention on space tech innovations.
India’s space sector is expanding rapidly, and EtherealX is at the forefront of this growth. Seeking to enhance launch capacity and flexibility in a market dominated by SpaceX, EtherealX’s reusable vehicle concept could potentially reduce launch costs and increase flight frequency significantly.
EtherealX’s development of two in-house engines, the ‘Pegasus’ upper-stage engine and the ‘Stallion’ booster engine, marks a significant technical milestone. These engines are set for hot-fire tests in June–July, showcasing the company’s commitment to advancing space propulsion technology.
Co-founder and CEO Manu J. Nair revealed plans for a technology demonstration launch in late 2027, paving the way for commercial missions starting in 2028. The startup’s approach and timeline underscore its position as a key player in the evolving space exploration landscape.
Source: TechCrunch