TDK Ventures, Accel set to back India’s EtherealX in reusable launch vehicle push: sources

Ethereal Exploration Guild (EtherealX), an Indian spacetech startup founded in 2022, is developing Razor Crest Mk-1, a fully reusable medium-lift launch vehicle designed to place up to eight tonnes into low Earth orbit and deliver payloads to geostationary transfer and trans-lunar injection orbits. The Bengaluru-based company aims to compete with SpaceX by offering significantly lower launch costs—estimated between $350 and $2,000 per kilogram compared to SpaceX’s $1,600 to $2,000 per kilogram—and targets capturing 30% to 40% of the market. EtherealX plans its first launch in early 2027 and has secured $130 million in contracts from six customers, reflecting strong early commercial demand. The startup is close to closing a funding round expected to raise about $20.5 million, up from an initial $15 million target, co-led by TDK Ventures and Vietnam-based BIG Capital, with participation from Acc