News Summary

Aetherflux, a space solar startup founded by Baiju Bhatt, billionaire co-founder of Robinhood, has successfully raised $50 million in a Series A funding round. The San Carlos, California-based company plans to launch its first demonstration satellite into low Earth orbit by 2026. The startup aims to create a constellation of satellites capable of collecting and transmitting solar energy directly to ground stations on Earth. This mission is inspired by Isaac Asimov’s 1941 short story ‘Reason’ and seeks to prove the feasibility of space-based solar power. The fresh capital will be used to hire engineers and develop the necessary technology and infrastructure for Aetherflux’s upcoming missions. The funding round was led by Index Ventures and Interlagos, with participation from Breakthrough Energy Ventures, Andreessen Horowitz, and NEA. Aetherflux has also received support from the Department of Defense’s Operational Energy Capability Improvement Fund, emphasizing the potential military applications of space solar power.