The spacetech startup EtherealX has secured $5 million in its seed round, which was spearheaded by YourNest and included participation from Akhilesh Agarwal, Kiran Shetty, BIG Global Investments JSC, Campus Fund, Yatin Shah from IIFL Wealth, and Golden Sparrow Ventures. The money raised will go toward developing the medium-lift launch vehicle’s engines, which will be totally reusable.
The firm received its first institutional funding in February of this year from Riceberg Ventures, BlueHill Capital, and Campus Fund.
Manu Nair, Prashanth Sharma, and Shubhayu Sardar founded EtherealX in 2022 with the goal of creating reusable rockets that land all stages of the rocket on Earth after take-off. At the moment, Elon Musk’s SpaceX is the only significant rocket manufacturer that uses to carry out orbital missions for profit using reusable rockets, particularly in the medium-lift and heavy-lift category.
The business intends to build the Razor Crest Mk-1, which will be the first totally reusable medium-lift launch vehicle in history. Up to 24.8 tonnes in expendable configuration, 22.8 tonnes in partially reusable configuration, and 8 tonnes in completely reusable configuration can be sent into 400 kilometres of Lower Earth Orbit (LEO) by the model.
