India's EtherealX Hits $80.5M Valuation to Build Fully Reusable Rockets

The global race for reusable space flight has a new heavyweight contender. EtherealX, an Indian space tech startup, recently saw its valuation jump 5.5x to $80.5 million after closing an oversubscribed $20.5 million Series A funding round. According to TechCrunch, the round was led by TDK Ventures and BIG Capital, with participation from Accel and Prosus.

EtherealX Reusable Rocket Roadmap and Razor Crest Mk-1

The Bengaluru-based company isn't just aiming for partial recovery; it's designing the Razor Crest Mk-1 to be fully reusable. While SpaceX's Falcon 9 focuses on returning the first-stage booster, EtherealX intends to return both the booster and the upper stage. This approach could significantly slash launch costs to a range of $350 to $2,000 per kilogram over time.

Scaling Operations for a 2028 Commercial Debut

EtherealX is moving fast, with engine hot-fire tests scheduled for June–July 2026. To support this, the startup has secured a 150-acre manufacturing and testing campus in Andhra Pradesh. CEO Manu J. Nair confirmed that the company has already signed $130 million in launch MOUs with international partners like Japan's SpaceBD and Taiwan's TASA.