Ethereal Exploration Guild, an Indian spacetech startup also known as EtherealX, has secured around $21 million in a new funding round to support its efforts in developing a fully reusable medium-lift launch vehicle. According to TechCrunch, the funding round is co-led by TDK Ventures and includes participation from Accel.
The startup, founded in 2022, is led by Manu J. Nair, Shubhayu Sardar, and Prashant Sharma, and aims to compete with SpaceX by introducing a medium-lift launch vehicle named Razor Crest Mk-1. This rocket is designed to be fully reusable, capable of placing payloads into low Earth orbit, geostationary transfer orbits, and trans-lunar injection orbits.
EtherealX has already secured $130 million worth of contracts from six customers, indicating early commercial interest in its launch services. The company anticipates offering cost efficiencies to customers and addressing the global launch capacity shortage. The first launch of its rocket is scheduled for early 2027, with expected launch prices ranging from $350 to $2,000 per kilogram, potentially offering a competitive edge.
Source: TechCrunch
Leave a Reply