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EtherealX - About the company

EtherealX is a series A company based in Bengaluru (India), founded in 2022 by Manu J Nair and Shubhayu Sardar. It operates as a Developer of reusable medium-lift launch vehicles and related propulsion systems. EtherealX has raised $28.3M in funding from investors like YourNest, TDK Ventures and Campus Fund, with a current valuation of $*****. The company has 172 active competitors, including 55 funded and 10 that have exited. Its top competitors include companies like SpaceX, Skyroot and Astra.

Company Details

Developer of reusable medium-lift launch vehicles and related propulsion systems. The company focuses on vertical landing launch vehicle technology and engine development. It designs liquid rocket engines and propulsion systems for space transportation. The company's engines utilize RP1/LOX propellant and a closed gas generator feed cycle.
Social
X
Email ID
*****@etherealx.space
Registered Address
EtherealX, 1st Floor, UrbanVault Citrine, Sy no 43/4, Hebbal Village, Kasba Hobli, Bellary Road, Kodigehalli, Bangalore, Bangalore North, Karnataka, India, 560092
Key Metrics
Founded Year
2022
Location
Bengaluru, India
Stage
Series A
Total Funding
$28.3M in 5 rounds
Latest Funding Round
Post Money Valuation
$***** as on Mar 25, 2026
Investors
Ranked
Annual Revenue
0 - ₹10 Cr as on Mar 31, 2025
Employee Count
26 as on Jul 31, 2025
Similar Companies
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EtherealX's funding and investors

EtherealX has raised a total funding of $28.3M over 5 rounds. Its first funding round was on Jun 23, 2023. Its latest funding round was a Series A round on Mar 25, 2026 for $*****. 1 investor participated in its latest round. EtherealX has 17 institutional investors and 9 angel investors.

Here is the list of recent funding rounds of EtherealX:lockFilter this list
Date of Funding
Funding Amount
Round Name
Post-Money Valuation
Revenue Multiple
Lead Investors
Other Investors
Mar 25, 2026
6673408
Series A
9221370
7488207
6174323
6334357
Dec 21, 2025
6924838
Series A
3064323
1266161
9050098
May 19, 2025
9175542
Seed
1117924
3413654
3476549
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EtherealX's founders and board of directors

Founder? Claim Profile
The founders of EtherealX are Manu J Nair and Shubhayu Sardar. Manu J Nair is the CEO of EtherealX.
Here are the details of EtherealX's key team members:

EtherealX's Board of Directors

EtherealX's board has 5 active members. Manu J Nair, Shubhayu Sardar, Richa Bajpai, Ranjeet Ravindra Shetye and Prashanth Sharma are part of team.
Here is the list of EtherealX's board of directors:
Name
Type
Representing
Status
Duration
Team
-
Current
4y 4m
Team
-
Current
4y 4m
Team
-
Current
3y 6m
Investor
-
Current
2y 10m
zpzijns
Investor
-
Past
6y 1m

EtherealX's employee count trend

EtherealX has 26 employees as of Jul 25. The total employee count is 13.0% more than what it was in Jul 24. Here is EtherealX's employee count trend over the years:
Employee count trend for EtherealX
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EtherealX's Competitors and alternates

Top competitors of EtherealX include SpaceX, Skyroot and Astra. Here is the list of Top 10 competitors of EtherealX, ranked by Tracxn score:
Rank
Company Details
Short Description
Total Funding
Investors
Tracxn Score
1st
Logo for SpaceX
SpaceX
2002, Hawthorne (United States), Public
Provider of advanced aerospace and space transportation services
$11.9B
84/100
2nd
Logo for Skyroot
Skyroot
2018, Hyderabad (India), Series C
Manufacturer of orbital launch vehicles for small satellite deployment missions
$145M
74/100
3rd
Logo for Astra
Astra
2016, Alameda (United States), Series B
Provider of launch services and electric propulsion systems for spacecraft
$137M
72/100
4th
Logo for Firefly Aerospace
Firefly Aerospace
2014, Cedar Park (United States), Public
Provider of small and medium satellite launch vehicles, lunar landers, and orbital vehicles
$589M
70/100
5th
Logo for Blue Origin
Blue Origin
2000, Kent (United States), Series D
Manufacturer of reusable launch vehicles for large payloads
$10B
66/100
6th
Logo for The Exploration
The Exploration
2021, Gauting (Germany), Series C
Developer of reusable space vehicles for cargo transport to space stations
$680M
66/100
7th
Logo for AgniKul Cosmos
AgniKul Cosmos
2017, Chennai (India), Series C
Manufacturer of orbital launch vehicles for micro and nano satellites
$62.2M
66/100
8th
Logo for Rocket Factory Augsburg
Rocket Factory Augsburg
2018, Augsburg (Germany), Series C
Manufacturer of orbital launch vehicles and flexible third stage systems
$33M
64/100
9th
Logo for PLD Space
PLD Space
2011, Elche (Spain), Series C
Provider of reusable launch vehicles for small payloads
$473M
63/100
10th
Logo for Stoke
Stoke
2019, Kent (United States), Series E
Manufacturer of reusable launch vehicles
$2.3B
63/100
13th
Logo for EtherealX
EtherealX
2022, Bengaluru (India), Series A
Developer of reusable medium-lift launch vehicles and related propulsion systems
$28.3M
60/100
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EtherealX's Latest cap tables and shareholding

Founders (largest shareholder) own 48.71%, Funds own 36.13%, Enterprises own 6.96% and Angels own 1.90%. The net worth of EtherealX's founders is INR 287Cr as of Jan 06, 2026. The cap table displayed below is for ETHEREAL EXPLORATION GUILD PRIVATE LIMITED which is the legal entity associated with EtherealX.
Shareholders Name
Post Round Holding %
Net worth
Cumulative Investment
Realised Returns
Unrealised Returns
Return Multiple
Founder
48.71%
287Cr
5003224
1900775
9907507
6833041
9076002
1725323
4209690
4249891
8599940
6374029
1278578
4534468
9138819
6558637
8464142
4508818
Fund
36.13%
213Cr
4440894
4452939
3678520
3028274
1680352
7296110
8600868
1733269
9703105
5756499
2934061
2011274
7494221
6825815
8579630
6339940
393949
503824
754803
103119
477562
338945
0
0
0
0
0
0
Enterprise
6.96%
41Cr
684222
374398
742163
588683
Angel
1.90%
11.2Cr
4
2
7
8
ESOP Pool
6.30%
37.1Cr
399006
725725
781530
498894
Total
100.00%
589Cr
3721879
1228600
5967626
4576782
Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
Disclaimer
Gain deeper insights into
shareholding pattern of this entity
$9.99$4.23(excl. taxes)
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What documents will you get?
  • Latest Shareholding Summary - Ownership breakdown across founders, investors, and other stakeholders
  • Round-by-Round Cap Tables - Evolution of shareholding across funding rounds
  • Year-on-Year Cap Tables - Dilution trends over time

EtherealX's Investments and acquisitions

EtherealX has made no investments or acquisitions yet.

Reports related to EtherealX

Here is the latest report on EtherealX's sector:

News related to EtherealX

Media has covered EtherealX for a total of 7 events in the last 1 year, 1 of them has been about company updates.
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