Indian SpaceX rival EtherealX hits 5x valuation as it readies engine tests
Ethereal Exploration Guild, an Indian space tech better known as EtherealX, has climbed 5.5x in valuation to $80.5 million after its latest funding round. The startup is developing a launch vehicle designed to be fully reusable and is readying engine hot-fire tests ahead of its first technology demonstration flight, planned for 2027. The Bengaluru-based company confirms that it closed an oversubscribed $20.5 million Series A round led by TDK Ventures and BIG Capital, as TechCrunch reported earlier. Accel, Prosus, YourNest, BlueHill, Campus Fund, and Riceberg Ventures also participated, EtherealX said. The raise follows a $5 million seed round in August 2024 that valued the startup at $14.6 million. As India pushes to mature its space ecosystem beyond small launchers and…
