TDK Ventures, Accel set to back India's EtherealX in reusable launch vehicle push: sources [TechCrunch]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: TechCrunch
close to securing about $21 million in a new funding round co-led by TDK Ventures, with Accel among the participants, TechCrunch has learned. Initially planned as a $15 million Series A, the round has drawn strong investor demand and is now expected to reach about $20.5 million, three people familiar with the matter told TechCrunch. The funding comes more than a year after the startup raised a $5 million seed round in August 2024. TDK Ventures is co-leading the round with Vietnam-based venture capital firm BIG Capital, with Accel also participating, the sources said. The funding talks follow EtherealX securing $130 million worth of contracts from six customers, the sources told TechCrunch, underscoring early commercial demand for its launch services. Founded in 2022 by Manu J. Nair alongside former Indian Space Research Organisation (ISRO) scientist Shubhayu Sardar, who serves as chief operating officer, and aerospace engineer Prashant Sharma, the chief technology officer, Eth
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