"Initially planned as a $15 million Series A, the round has drawn strong investor demand and is now expected to reach about $20.5 million, three people familiar with the matter told TechCrunch. The funding comes more than a year after the startup raised a $5 million seed round in August 2024. TDK Ventures is co-leading the round with Vietnam-based venture capital firm BIG Capital, with Accel also participating, the sources said. The funding talks follow EtherealX securing $130 million worth of contracts from six customers, the sources told TechCrunch, underscoring early commercial demand for its launch services."
"Founded in 2022 by Manu J. Nair alongside former Indian Space Research Organisation (ISRO) scientist Shubhayu Sardar, who serves as chief operating officer, and aerospace engineer Prashant Sharma, the chief technology officer, EtherealX is aiming to take on SpaceX with a medium-lift launch vehicle called Razor Crest Mk-1. The rocket, designed to be fully reusable, is expected to place up to eight tonnes into low Earth orbit and will also be capable of delivering payloads to geostationary transfer and trans-lunar injection orbits."
EtherealX, founded in 2022, is nearing a roughly $20.5 million funding round co-led by TDK Ventures and BIG Capital, with participation from Accel. The company previously raised $5 million in seed financing in August 2024 and has secured about $130 million in contracts from six customers, demonstrating early commercial traction. EtherealX is developing the Razor Crest Mk-1, a fully reusable medium‑lift rocket capable of placing up to eight tonnes into low Earth orbit and delivering payloads to geostationary transfer and trans‑lunar injection orbits. The company projects launch prices of $350–$2,000 per kilogram and targets first launch in early 2027.
Read at TechCrunch
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