Funding Alert
EtherealX Raises First Institutional Funding for Spacetech Innovation
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ByStartupStory | February 5, 2024
Spacetech startup EtherealX has secured its first institutional funding from Campus Fund, BlueHill Capital, and Riceberg Ventures.
The funding will be utilized for EtherealX’s 40 kilonewton, a privately developed semi-cryogenic rocket engine, as reported by Economic Times.
Founded in 2022 by Shubhayu Sardar, Manu Nair, and Prashanth Sharma, EtherealX aims to develop reusable rockets that bring both stages of the rocket back to Earth after flight. Currently, SpaceX, led by Elon Musk, is the only major rocket maker commercially operating orbital launches using reusable rockets, particularly in the medium-lift and heavy-lift category.
One of EtherealX’s key projects is the Razor Crest Mk-1, designed to be the world’s first fully reusable medium-lift launch vehicle. The model is capable of dispatching payloads of up to 24.8 tonnes to the Lower Earth Orbit (LEO) in an expendable configuration, 22.8 tonnes in a partially reusable configuration, and 8 tonnes in a fully reusable configuration to 400 kilometers LEO.
Last month, Campus Fund announced its second fund of Rs 75 crore (approximately $9 million), which was oversubscribed by 37%.
In recent years, several spacetech startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Dhruva, Vesta Space, Digantara, and InspeCity have successfully raised significant funding, highlighting the growing interest and investment in the spacetech sector.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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