Bengaluru-based spacetech startup The Guild has raised $20.5 million in a Series A round led by TDK Ventures and BIG Capital, with participation from Accel, Prosus, YourNest, Campus Fund, BlueHill Capital and Riceberg Ventures. The round brings the company’s total funding to $25.5 million and values it at roughly $80.5 million, underscoring growing investor interest in India’s private space sector.
Building a fully reusable medium-lift rocket
Founded in 2022 and previously known as EtherealX, The Guild is developing advanced launch vehicle technology aimed at producing the world’s first fully reusable medium-lift rocket. The company says its goal is to cut launch costs substantially and position India as a competitive player in the global commercial launch market.
Funding to accelerate Razor Crest Mk-1 development
The new capital will accelerate design, testing and qualification of the company’s flagship vehicle, Razor Crest Mk-1. Unlike many conventional launchers that recover only a single stage, Razor Crest Mk-1 is being engineered so both the booster and upper stage can be recovered and reused—an approach intended to lower per-launch costs and shorten turnaround times between missions.
The Guild targets a payload capacity of up to 24.8 tonnes to Low Earth Orbit (LEO) and 10.8 tonnes to Geosynchronous Transfer Orbit (GTO), placing the vehicle in the medium-lift class suitable for commercial satellite launches, constellation deployment and government missions.
Propulsion systems and thermal management
Propulsion is central to The Guild’s programme. The company is developing two in-house engines: Stallion, a semi-cryogenic booster engine producing 1.2 meganewtons of thrust designed for reusability; and Pegasus, an 80 kilonewton upper-stage engine.
A notable technical choice is the use of a Full-Flow Segregated Cooling Cycle (FSCC) for the upper-stage engine. FSCC is an advanced thermal management approach that improves handling of extreme heat loads and supports repeated engine reuse—an important factor in reducing lifecycle operational costs for reusable systems.
Expanding test infrastructure in South India
The Guild is scaling its test facilities to support iterative development and qualification. Engine tests are already underway at BASE-001 in Cuddalore, Tamil Nadu, and the company is establishing BASE-002 in Space City, Andhra Pradesh. The new facility will host engine firings, stage-level tests, qualification programmes and refurbishment operations.
Such infrastructure is critical for progressing from static ground tests to flight-ready systems, particularly for reusable vehicles that require frequent, rigorous validation cycles.
Investor confidence and market ambition
The participation of both global and domestic investors reflects rising confidence in India’s spacetech ecosystem and its engineering talent. The Guild has stated an ambition to reduce launch costs to about $500 per kilogram—an aggressive target that, if realised, could expand access to space for satellite operators and create new commercial opportunities.
Founders and backers view the venture as a step toward a more competitive, diversified global launch market rather than one concentrated among a few incumbents.
Implications for India’s private space ecosystem
The Series A comes amid accelerating momentum in India’s private space sector, supported by regulatory reforms and increased international interest. With its emphasis on full reusability, advanced propulsion and substantial payload capacity, The Guild exemplifies a new wave of Indian deep-tech firms addressing complex, high-impact challenges in space launch.
As development and testing advance, the industry will closely monitor The Guild’s progress—its success could influence India’s role in providing more affordable and reliable access to space.
