EtherealX, a Bengaluru-based space technology startup, secured $5 million in funding led by YourNest to develop reusable launch vehicles for satellites.

Target Company Overview

EtherealX is a pioneering startup in the space technology sector, focusing on the development of reusable launch vehicles specifically designed for satellite deployment. Established in 2022 and based in Bengaluru, India, EtherealX aims to revolutionize space transportation with innovative solutions that enhance the efficiency and reduce the costs of launching payloads into orbit. The startup has gained significant attention within the industry for its ambitious plans to create fully reusable medium-lift launch systems.

Recently, EtherealX secured $5 million in a funding round led by YourNest, an early-stage venture capital firm, with additional investments from notable firms such as BIG Global Investments, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures. Chief Executive Manu J Nair outlined that the funds will be allocated towards developing propulsion systems, particularly the testing and qualification of a 40kN engine for the upper stage of their launch vehicle, as well as manufacturing a semi-cryogenic engine with 925kN thrust.

Industry Overview

India's space technology sector has witnessed remarkable growth, securing $126 million in funding in 2023, marking a 7% increase from the previous year's total of $118 million and a significant rise from $37.6 million in 2021. Th