EtherealX, an Indian space technology start-up has announced its successful raise of $5 million to develop fully reusable medium-lift launch vehicles. YourNest led the round with further 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 rocket stages to earth after flight to address issues of substantial 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 cut launch timeframes.
EtherealX will consequently evaluate its development through a technology demonstrator vehicle (TDV), which the company aims to launch in 2026.
Furthermore, the startup intends for a full orbital launch to around 400 kilometres with its initial vehicle, using the same engine type as the full-scale vehicle but in a smaller count: four engines on the upper stage and one in the booster stage. The TDV will be 35 meters tall and 2.5 meters wide with a 1.2-ton capacity.
Commenting on the funding, Manu J. Nair, CEO, said, “The funds from this round go towards the completion of our test facility, final tests and qualification of the 40kN engine for the upper stage, and for the manufacturing of the 925kN semi-cryogenic engine.”
In another interview, the CEO explained, “testing of our rocket engines, the semi-cryogenic reusable rocket engines. Primarily, the 40-kilonewton engine will be test-fired and the finishing of our engine test facility, as well as the manufacturing of our 925-kilonewton semi-cryogenic reusable rocket engine.”
