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India’s commercial space sector has achieved another significant milestone with EtherealX, a Bengaluru based aerospace startup, successfully closing a $20.5 million Series A funding round. The investment, spearheaded by TDK Ventures and BIG Capital, marks a pivotal moment for the company’s ambitious plans to develop fully reusable launch vehicles.
Strategic Investment and Valuation Growth
The funding round attracted notable participation from prominent venture capital firms including Accel, Prosus, YourNest Venture Capital, BlueHill Capital, Campus Fund, and Riceberg Ventures. This substantial investment has propelled EtherealX’s valuation to $80.5 million, representing an impressive 5.5 fold increase from its previous valuation. The significant jump underscores investor confidence in the startup’s technological capabilities and market potential.
Ambitious Development Roadmap
EtherealX has outlined a comprehensive timeline for bringing its reusable rocket technology to fruition. The company plans to conduct critical engine hot fire tests by mid-2026, followed by a technology demonstration flight scheduled for late 2027. If successful, commercial launch operations are projected to commence in 2028, with an initial target of conducting five to six missions annually before gradually scaling up operations.
Advanced Propulsion Technology
At the core of EtherealX’s innovation lies its proprietary propulsion system, comprising two distinct engine types. The Stallion booster engine will power the first stage, while the Pegasus upper stage engine will handle orbital insertion. The flagship vehicle, designated Razor Crest Mk-1, features an ambitious configuration utilizing nine Stallion engines on the booster stage and fifteen Pegasus engines on the upper stage. This configuration enables the vehicle to deliver up to 24.8 tonnes of payload in expendable mode, or approximately 8 tonnes when operating in fully reusable mode.
Infrastructure Development
Supporting this technological advancement, EtherealX operates the Base 001 test facility in Tamil Nadu for upper stage qualification testing. Additionally, the company is developing a substantial 150-acre campus within Andhra Pradesh’s proposed space city, expected to become operational by mid 2026. This facility will accommodate full stage testing and clustered engine firing tests, essential for validating the complex multi-engine configurations.
The successful funding round positions EtherealX as a formidable player in the global commercial space launch market, contributing to India’s growing prominence in the international aerospace industry. As the company progresses toward its 2027 demonstration flight, the space sector will be watching closely to see if India can establish itself as a competitive force in the reusable rocket market.
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