Ibadan, August 7, 2024. – EtherealX, an Indian space technology startup, has announced that it has raised $5 million to develop fully reusable medium-lift launch vehicles. YourNest led the round with additional participation from BIG Global Investments JSC, Blue Hill Capital, Campus Fund and Golden Sparrow Ventures.
The Indian company aims to build reusable rockets that can return both stages to Earth after flight to solve the problems of high transportation costs and considerable waiting periods during launches. As a result, EtherealX is looking to develop its fully reusable medium-lift vehicle, which will offer absolute reusability to help reduce transportation costs and shorten launch times.
EtherealX will test its development through a technology demonstrator vehicle (TDV), which the company aims to launch in 2026. In addition, the startup aims to perform a full orbital launch of about 400 kilometers with its initial vehicle, using the same type of engine as the full-scale vehicle, but in smaller numbers: four engines in the upper stage and one in the booster stage. The TDV will be 35 meters high and 2.5 meters wide, with a capacity of 1.2 tons.
Commenting on the funding, CEO Manu J. Nair said, “Funds from this round will go towards the completion of our test facility, final testing and qualification of the 40-kilonewton upper stage engine, and manufacturing of the 925-kilonewton semi-cryogenic engine.” In a separate interview, the CEO explained, “Testing of our rocket engines, the semi-cryogenic reusable rocket engines. Primarily, the 40-kilonewton engine will be tested and completion of our engine test facility, as well as manufacturing of our 925-kilonewton semi-cryogenic reusable rocket engine.”
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