Aetherflux, a startup specializing in space solar technology and founded by billionaire Baiju Bhatt, co-founder of Robinhood, has secured $50 million in a Series A funding round. The company, based in San Carlos, California, plans to utilize these funds to launch its initial low Earth orbit satellite demonstration scheduled for 2026.
The startup emerged from stealth mode last October with a vision to establish a constellation of low Earth orbit satellites capable of collecting and transmitting solar energy to Earth-based “ground stations.” This innovative concept was inspired by Isaac Asimov’s 1941 short story “Reason,” and Bhatt is determined to turn this science fiction idea into reality.
To achieve this, Aetherflux must first launch a satellite to validate its technology, aiming to demonstrate a significant advancement in harnessing space-based solar power for human use, according to Bhatt, the company’s founder and CEO.
The upcoming launch planned for next year will be supported by the recent capital infusion, raising Aetherflux’s total funding to $60 million. This includes a personal investment of $10 million from Bhatt. The Series A funding round was led by Index Ventures and Interlagos, with contributions from Breakthrough Energy Ventures, Andreessen Horowitz, NEA, and other notable investors, including Jared Leto.
Bhatt stated during an appearance on the TechCrunch Equity podcast that Aetherflux intends to use the funds to expand its engineering team and invest in the necessary technology and infrastructure for its initial missions.
The team’s current focus is on developing the payload for the satellite bus, which will convert the satellite’s generated power into laser power for transmission back to Earth.
Aetherflux is utilizing Apex Space’s Aries satellite bus, the core structure and system of a satellite, which handles functions such as power, propulsion, and communications. These buses generally generate power via solar panels, and Bhatt explained that the energy, potentially reaching up to a kilowatt, will be returned to Earth using lasers.
The receiving end will consist of Aetherflux’s “ground stations,” which employ photovoltaic arrays to convert solar power into stored energy. Bhatt mentioned that, while a location for the ground station has not been selected, they are considering military sites with controlled air space for the evaluation.
Looking ahead, Aetherflux aims to develop small, portable ground stations, measuring five to ten meters in diameter, to deliver electricity to even the most isolated areas.
The company seeks to demonstrate the end-to-end power linking process with its first mission, which will involve showcasing the ability to generate electricity on the ground for practical applications.
Transmitting solar power from space to Earth has been a rare achievement. A successful mission occurred in 2023 when Caltech’s Space Solar Power Project managed wireless power transfer from low-earth orbit via microwave beaming. However, this was a proof of concept and did not match Aetherflux’s ambition for a scalable, commercial solution.
The funding raise follows an award from the Department of Defense’s Operational Energy Capability Improvement Fund, encouraging the development of space solar power for use by the U.S. military.
