Bengaluru-based spacetech startup The Guild, earlier known as EtherealX, has raised $20.5 million in a Series A funding round, marking a major milestone for India’s private space sector. The round was led by TDK Ventures and BIG Capital, with participation from Accel, Prosus, YourNest, Campus Fund, BlueHill Capital, and Riceberg Ventures. With this infusion, the startup’s total funding has reached $25.5 million, and its valuation stands at around $80.5 million.
Founded in 2022, The Guild is building advanced launch vehicle technology with a bold vision — to develop the world’s first fully reusable medium-lift rocket. The company aims to dramatically reduce the cost of launching payloads into space, making India a strong contender in the global commercial launch market.
Backing India’s Next-Generation Launch Technology
The fresh capital will be used to speed up the design, testing, and qualification of The Guild’s flagship launch vehicle, Razor Crest Mk-1. Unlike traditional rockets, where only part of the system may be reusable, Razor Crest Mk-1 is being designed so that both the booster stage and upper stage can be recovered and reused. This approach is expected to significantly reduce launch costs and improve turnaround time between missions.
According to the startup, the rocket is being developed to carry up to 24.8 tonnes to Low Earth Orbit (LEO) and 10.8 tonnes to Geosynchronous Transfer Orbit (GTO). This places it firmly in the medium-lift category, capable of supporting commercial satellite launches, constellations, and government missions.
Engine Innovation at the Core
At the heart of The Guild’s technology are its in-house propulsion systems. The company is developing two advanced rocket engines. The Stallion engine is a semi-cryogenic booster engine producing 1.2 meganewtons of thrust, designed for reusability. The Pegasus engine, generating 80 kilonewtons of thrust, will power the upper stage of the rocket.
One of the standout technological features is the use of a Full-Flow Segregated Cooling Cycle (FSCC) in the upper stage. This advanced cooling method is intended to manage extreme thermal loads more efficiently and enable repeated reuse of the engine, a key requirement for lowering long-term operational costs.
Expanding Test Infrastructure in South India
To support extensive testing and validation, The Guild is scaling up its infrastructure. The company is already conducting engine testing at BASE-001 in Cuddalore, Tamil Nadu. With the new funding, it is setting up BASE-002 in Space City, Andhra Pradesh. This upcoming facility will serve as a comprehensive hub for engine firings, stage-level tests, qualification programmes, and refurbishment operations.
Such infrastructure is critical for moving from ground testing to actual flight-readiness, especially for reusable launch systems that require repeated and rigorous validation.
Strong Investor Confidence in India’s Spacetech Story
The participation of global and domestic investors highlights growing confidence in India’s spacetech ecosystem. Investors see The Guild as a long-term bet on innovation, talent, and cost-efficient engineering. The company has also stated its ambition to bring launch costs down to around $500 per kilogram, which could open up new commercial opportunities for satellite operators worldwide.
The founders believe their work can help create a more competitive and diversified global launch market, rather than one dominated by a handful of players.
A Big Step for India’s Private Space Ecosystem
The Guild’s Series A funding comes at a time when India’s private space sector is gaining momentum, supported by policy reforms and increasing global interest. With its focus on full reusability, advanced propulsion, and large payload capacity, the startup represents a new wave of Indian deep-tech companies tackling complex, high-impact challenges.
As development progresses and testing accelerates, The Guild’s journey is being closely watched. Its success could play an important role in shaping India’s future as a leading provider of affordable and reliable access to space.