Indian Startup EtherealX Soars to New Heights with $80.5 Million Valuation
In a major milestone for India's space tech industry, Bengaluru-based startup EtherealX has reached an impressive valuation of $80.5 million after its latest funding round. This significant jump in valuation is a testament to the company's innovative approach to developing fully reusable launch vehicles.EtherealX Aims to Revolutionize Space Launches with Reusable Vehicles
Founded by Manu J. Nair, EtherealX is working on a launch vehicle designed to be fully reusable, which could potentially cut per-launch costs and increase flight frequency without relying on a native constellation to keep rockets fully booked. This approach is in line with the Indian government's vision of growing its space economy to $45 billion from $8 billion over the next decade.
EtherealX Develops Two In-House Engines for Its Reusable Vehicle
The startup is developing two engines, the 80-kilonewton 'Pegasus' upper-stage engine and the 1.2-meganewton 'Stallion' booster engine. Hot-fire tests for these engines are targeted for June-July, marking a significant step towards the company's goal of launching its first technology demonstration vehicle in November-December 2027.
EtherealX Secures $20.5 Million Funding Round Led by TDK Ventures and BIG Capital
The oversubscribed Series A round, which also saw participation from Accel, Prosus, YourNest, BlueHill, Campus Fund, and Riceberg Ventures, brings EtherealX's total funding to date to $26.1 million. This significant investment will support the company's ongoing development of its reusable launch vehicle technology.
EtherealX Joins Ranks of Indian Space Tech Startups Making Waves Globally
As India pushes to mature its space ecosystem beyond small launchers and component contracts, EtherealX is among the startups drawing attention. With its innovative approach to reusable vehicles, the company is poised to make a significant impact in the global space industry.
EtherealX's impressive valuation and ongoing development of reusable launch vehicle technology mark an exciting milestone for India's space tech industry. As the company continues to push boundaries and innovate, it will be interesting to see how its technology shapes the future of space launches globally.
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