What's Happening?
Ethereal Exploration Guild, known as EtherealX, has significantly increased its valuation to $80.5 million following a successful $20.5 million Series A funding round. The Bengaluru-based space tech startup
is developing a fully reusable launch vehicle and is preparing for engine tests ahead of its first demonstration flight scheduled for 2027. The funding round was led by TDK Ventures and BIG Capital, with participation from Accel, Prosus, YourNest, BlueHill, Campus Fund, and Riceberg Ventures. EtherealX has also secured $130 million in launch agreements with clients such as Japan's SpaceBD and Taiwan's space agency, TASA. The company is focusing on developing two engines, the Pegasus upper-stage engine and the Stallion booster engine, with hot-fire tests planned for mid-2026.
Why It's Important?
EtherealX's advancements in reusable launch technology could significantly impact the global space industry by reducing launch costs and increasing flight frequency. This development aligns with India's broader strategy to expand its space economy from $8 billion to $45 billion over the next decade. By offering a fully reusable vehicle, EtherealX aims to compete with established players like SpaceX, potentially providing more launch capacity and scheduling flexibility for satellite operators worldwide. The success of EtherealX could position India as a key player in the global space market, attracting further investment and innovation in the sector.
What's Next?
EtherealX plans to conduct engine hot-fire tests in mid-2026 and aims for a technology demonstration flight by late 2027. The company is also expanding its workforce and manufacturing capabilities to support increased testing and production. As EtherealX progresses, it may attract more commercial clients and partnerships, further solidifying its position in the space industry. The company's success could also influence other startups and established companies to explore similar reusable technologies, potentially leading to a more competitive and innovative space market.
