Spacetech Startup EtherealX Secures $20 Million in Funding Led by TDK Ventures and BIG Capital

India’s private space sector continues to attract strong investor interest, with reusable launch vehicle developer EtherealX closing a fresh funding round to accelerate technology development and market readiness. 

Funding and Investor Participation 

Spacetech startup Ethereal Exploration Guild, operating as EtherealX, has secured $20.5 million in a funding round co-led by TDK Ventures and BIG Capital.  

The round also drew participation from Accel, Prosus, YourNest Venture Capital, BlueHill Capital, Campus Fund and Riceberg Ventures.  

The fundraising comes amid increased capital flows into India’s space ecosystem, following recent large rounds by peers such as Digantara Industries and Agnikul Cosmos. 

Technology Roadmap and Market Focus 

Founded in 2022 by Manu J Nair, Shubhayu Sardar and Prashant Sharma, EtherealX is developing fully reusable medium-lift rockets designed to carry over 20 tonnes to low Earth orbit, with recovery planned for both the booster and upper stages.  

As per news reports, cofounder Manu J Nair said, “There are 2 broad technical milestones we are targeting. One is the qualification of the booster stage, and the other is the flight qualification of the upper stage.”  

The company plans to fly a 35-metre-tall technology demonstrator vehicle in 2027, followed by the first flight of its commercial launcher, Razor Crest Mk-1, by the end of 2028. 

Customer Interest and Industry Outlook 

Although the company has not yet completed an orbital launch, it has already signed launch memoranda of understanding worth up to $130 million. “We are in late-stage discussions. We have signed launch MoUs with customers worth up to $130 million,” Nair said, adding that the company has prioritised large, creditworthy customers such as government-authorised launch aggregators and space agencies.  

Commenting on the broader market, he noted, “When over 83% of global payloads are launched by a single vehicle, that’s not market dominance, it’s market dependence,” and added, “We see an opportunity to make it multipolar. India is perfectly positioned for that, geographically and technologically.” 

Read More: Deep Tech Startup Aule Space Secures ₹2 Million Funding Led by pi Ventures! 

Conclusion 

With fresh capital, growing customer commitments and a defined flight timeline, EtherealX is positioning itself as a contender in the global medium-lift launch segment as India’s private space industry matures. 

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