Leading the seed round, YourNest, BIG Global Investments JSC, Campus Fund, BlueHill Capital, Golden Sparrow Ventures, Kiran Shetty, Akhilesh Agarwal, and Yatin Shah from IIFL Wealth contributed $5 million to the spacetech startup EtherealX.
Their fully reusable medium-lift launch vehicle’s engines will be developed with the proceeds.
The startup received its first institutional funding from Campus Fund, BlueHill Capital, and Riceberg Ventures in February of this year.
Manu Nair, Prashanth Sharma, and Shubhayu Sardar founded EtherealX in 2022 with the goal of creating reusable rockets that land both stages of the rocket on Earth after takeoff. At the moment, Elon Musk’s SpaceX is the only significant rocket manufacturer that uses reusable rockets for orbital launches on a commercial basis, especially for medium- and heavy-lift missions.
The startup intends to build the Razor Crest Mk-1, which will be the first fully 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 fully reusable configuration can be sent into 400 kilometers of Lower Earth Orbit (LEO) by the model.
