India’s Private Launch Market Is Moving Up the Value Chain
India’s private spacetech ecosystem is shifting beyond smallsat launches toward heavier payloads and reusable launch systems. As satellite constellations, defence missions, and commercial payload demand scale, the gap for cost-efficient medium-lift launch vehicles has become increasingly visible. This is where deep-tech startups are now betting on reusability and rapid iteration to reset launch economics.
Funding Snapshot
Bengaluru-based spacetech startup The Guild (formerly EtherealX) has raised $20.5 million in a Series A funding round led by TDK Ventures and BIG Capital.
The round also saw participation from Accel, Prosus, YourNest Venture Capital, Campus Fund, BlueHill Capital, and Riceberg Ventures.
The round values the company at $80.5 million, taking its total funding to $25.5 million.
What The Guild Is Building
Founded in 2022 by Manu Nair, Shubhayu Sardar, and Prashanth Sharma, The Guild is developing Razor Crest Mk-1, a fully reusable medium-lift launch vehicle. The rocket is designed to significantly reduce orbital transport costs by combining reusable booster and upper-stage technologies.
The startup is preparing for a series of propulsion and stage-level tests, including its semi-cryogenic Stallion engine for the booster stage and its proprietary Full-Flow Segregated Cooling Cycle (FFSCC) engine architecture aimed at enabling second-stage reusability. It is also expanding test infrastructure through BASE-002 in Andhra Pradesh, while continuing engine qualification at its Cuddalore facility in Tamil Nadu.
Why This Funding Matters
TDK Ventures’ participation signals growing strategic interest in India’s launch infrastructure, particularly around avionics, high-performance components, and cost-efficient manufacturing. For Indian spacetech founders, The Guild’s raise underscores a broader shift: global capital is now backing companies that can compete on payload class, reliability, and economics, not just innovation. If successful, reusable medium-lift launch vehicles could position India as a serious alternative in global orbital access.
Keep building. Keep learning. Keep growing with StartupByDoc.