Space solar startup Aetherflux raises $50M to launch first space demo in 2026

Aetherflux, a space solar startup founded by Baiju Bhatt, the billionaire co-founder of Robinhood, has successfully secured $50 million in a Series A funding round as it progresses towards launching its initial low Earth orbit demonstration by 2026.

Based in San Carlos, California, Aetherflux emerged from stealth mode in October with the goal of deploying a network of low Earth orbit satellites capable of harvesting and transmitting solar energy directly to Earth’s “ground stations.” Inspired by Isaac Asimov’s 1941 short story “Reason,” Bhatt is dedicated to transforming this science fiction concept into reality.

The startup’s immediate priority is to launch a satellite into orbit to validate the technology and showcase the groundbreaking advancement from humans lacking power from space to harnessing space-based power for the first time. Bhatt, CEO of Aetherflux, expressed this vision to DailyTech.

With the recent funding, Aetherflux’s total investment now stands at $60 million, with Bhatt contributing $10 million of his personal funds. The Series A round was led by Index Ventures and Interlagos, with backing from Bill Gates’s Breakthrough Energy Ventures, Andreessen Horowitz, NEA, and notable individuals like Jared Leto.

Bhatt disclosed that the funding will primarily support hiring engineers and advancing the technology and infrastructure required for the startup’s initial missions.

Aetherflux has opted for Apex Space’s Aries satellite bus, a fundamental structure and system that facilitates satellite operations such as power generation, propulsion, and communication. The satellite will transmit up to a kilowatt of energy back to Earth via lasers, received by Aetherflux’s ground stations equipped with photovoltaic arrays for energy storage.

The startup’s team, including experts from NASA, SpaceX, Lockheed Martin, Anduril, and the U.S. Navy, is diligently working on establishing Aetherflux’s inaugural ground station, with plans for future portable stations to deliver electricity to remote areas.

Aetherflux aims to showcase the end-to-end power transmission from space to Earth during its first mission, distinguishing itself from previous attempts like Caltech’s Space Solar Power Project in 2023. The startup’s ambitious project has also attracted attention from the Department of Defense, receiving funding to develop space solar power for military applications.