Archive — US — techcrunch
TDK Ventures, Accel set to back India’s EtherealX in reusable launch vehiclepush: sources
Indian spacetech startup EtherealX is set to secure around $21 million in funding co-led by TDK Ventures and Accel to develop a reusable launch vehicle aimed at capturing a significant share of the commercial launch market by offering competitive pricing. With $130 million in contracts already secured, EtherealX aims to launch its Razor Crest Mk-1 rocket by 2027.
Key points
- EtherealX, founded by Manu J. Nair, Shubhayu Sardar, and Prashant Sharma, is developing a fully reusable medium-lift launch vehicle named Razor Crest Mk-1.
- The upcoming funding round is expected to reach about $21 million, co-led by TDK Ventures and BIG Capital, with Accel participating.
- EtherealX has already secured $130 million in contracts from six customers, indicating high commercial demand for its services.
- The startup aims to provide cost-efficient launch services, with anticipated prices ranging from $350 to $2,000 per kilogram, competing with SpaceX's pricing.
- The first launch is targeted for early 2027, supported by securing land in Tamil Nadu for operations and developing key components for the rocket.
Why it matters
- India is positioning itself as a key player in the global commercial space industry, targeting a market share increase to 8-10% in the coming decade.
- The backing of venture capital firms like TDK Ventures and Accel showcases increasing investor interest in Indian space startups.
- EtherealX's endeavors align with the trend of reusable launch systems transforming the aerospace sector, following the successes of companies like SpaceX.
EtherealX's funding reflects a growing confidence in India's space capabilities and the potential to capture a significant portion of the global launch market through innovation and competitive pricing.