Bengaluru/IBNS: Indian space tech startup EtherealX, which is focussing on making reusable rockets, raised $5 million in a seed-funding round, which was led by 'Pre-Series A' fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.

The Bengaluru-based space tech startup announced on Tuesday (Aug 6) that it will use the funds to develop engines for its proposed fully reusable medium-lift launch vehicle "Razor Crest Mk-1".

EtherealX founder-chief executive officer (CEO) Manu J Nair said, "The funds from this round will be utilized 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.”

EtherealX said that unlike SpaceX’s Falcon 9, which provides partial reusability by bringing its booster back to Earth after successful launches, the startup is designing its vehicles to get both the upper stage and booster back.

The space tech startup was founded in 2022 by a team of ex-ISRO (Indian Space Research Organisation) scientists including CEO Manu J Nair, chief operating officer (COO) Shubhayu Sardar and chief technical officer (CTO) Prashant Sharma.

"Class-specific launch vehicles have always been limiting, both technologically and cost-wise. We solve this with a clear tech advantage, addressing both frequency and pricing challenges," Manu J Nair said.

"We are thrilled our investors share this broader vision for our civilization and high-impact technology. Together, we shall recalibrate the preconceived notions of what’s possible," he added.

The proposed launch vehicle would be able to launch 8 tonnes into the lower Earth orbit and carry payloads of more than 24.8 tonnes in a disposable configuration and 22.8 tons in a partially reusable configuration, reports Moneycontrol.

According to reports, the launch vehicle will be designed to deliver payloads into geostationary transfer and trans-lunar injection orbits.