India, Jan. 15 -- Bengaluru-based spacetech startup EtherealX has raised $20.5 Mn (about INR 185 Cr) in a Series A funding round at a valuation of $80.5 Mn. The round was led by TDK Ventures and BIG Capital, with participation from Accel, Prosus, YourNest Venture Capital, BlueHill Capital, Campus Fund and Riceberg Ventures.

The startup will deploy the capital towards designing and testing a fully reusable launch vehicle, with plans to carry out engine hot-fire tests by mid-2026 and a technology demonstration flight in late 2027. The funding will also support development of recovery systems for both the booster and upper stage, ahead of targeting commercial launch missions from 2028.

Tech Crunch was first to report on the development.

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