Spacetech startup EtherealX raised first funding from Campus Fund, others
Riceberg Ventures, Campus Fund, and BlueHill Capital have contributed their first institutional funding to the spacetech startup EtherealX.
According to Economic Times, the money raised will go toward the startup’s 40 kilonewton, a privately developed semi-cryogenic rocket engine.
EtherealX, which was founded in 2022 by Shubhayu Sardar, Manu Nair, and Prashanth Sharma, aims to construct reusable rockets that return both stages of the rocket to Earth after launch. 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.
The second fund of Rs 75 crore (roughly $9 million) announced by Campus Fund last month was 37% oversubscribed.
Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity are just a few of the spacetech startups that have successfully raised a respectable amount of capital in recent years.
