EtheEtherealX Secures $5 Million in Funding to Advance Space Transportation

Bengaluru-based space technology startup EtherealX has raised $5 million in a funding round led by YourNest, an early-stage venture capital firm. The funds will drive the development of reusable medium-lift launch vehicles, including the completion of a test facility, final testing, and the qualification of a 40kN engine for the upper stage. The company also plans to manufacture a 925kN semi-cryogenic engine.

EtherealX, founded in 2022 by Manu J Nair, Shubhayu Sardar, and Prashant Sharma, is focused on creating cutting-edge space transportation solutions. Other investors in the round include BIG Global Investments, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures.

India's spacetech sector has seen significant growth, securing $126 million in funding in 2023, a 7% increase from 2022. So far this year, the sector has attracted $10.8 million in investments.

Venture partner at YourNest, Ranjeet Shetye, emphasized EtherealX's alignment with the firm’s commitment to deeptech innovation.