EtherealX, formally Ethereal Exploration Guild, is building Razor Crest Mk-1, a launch vehicle intended to return both its booster and upper stage for full reusability, thereby cutting per-launch costs and boosting flight frequency. The company is designing and producing two engines internally: the 80 kN Pegasus upper-stage engine (323 s vacuum Isp, full-flow segregated cooling cycle) and the 1.2 MN Stallion booster engine (306 s sea-level Isp, gas-generator cycle). Hot-fire tests for both engines are scheduled for June–July at its Base 001 site in Tamil Nadu, while a 150-acre manufacturing and testing campus in Andhra Pradesh is slated to open mid-2026. EtherealX targets a technology demonstration flight in November–December 2027 and the start of commercial launches in late 2028, offering payload capacities from 8 t (fully reusable) to 24.8 t (expendable) at $350–$2,000 per kilogram. It has already signed launch MOUs worth roughly $130 million with customers such as Japan’s SpaceBD and Taiwan’s TASA. The startup employs 67 people and plans to grow headcount to about 90 in the coming months. Following its latest raise, the company’s valuation stands at $80.5 million.

Total raised

$25M

Funding rounds

2

Latest round

Seed

Latest activity

Aug 2024