Aetherflux, a space solar startup founded by billionaire Baiju Bhatt, co-founder of Robinhood, has secured $50 million in a Series A funding round to support the launch of its first low Earth orbit demonstration in 2026. The San Carlos, California-based startup aims to revolutionize the energy industry by collecting and transmitting solar energy directly to "ground stations" on Earth, a concept inspired by Isaac Asimov's 1941 short story "Reason."

The fresh capital brings Aetherflux's total funding to $60 million, following Bhatt's initial investment of $10 million in the company. The Series A round was led by Index Ventures and Interlagos, with participation from notable investors such as Bill Gates's Breakthrough Energy Ventures, Andressen Horowitz, and NEA, as well as actor Jared Leto.

Aetherflux plans to utilize the funds to expand its engineering team and invest in the technology and infrastructure necessary for its first several missions. According to Bhatt, the company's primary focus is on building the payload that sits on top of the Apex Space's Aries satellite bus, which will convert the power generated by the satellite into laser power. The satellite bus will generate up to a kilowatt of energy, which will be sent back to Earth via lasers.

On the receiving end, Aetherflux is developing "ground stations" comprising photovoltaic arrays that convert sunlight to energy, stored in batteries for later use. The startup is currently evaluating military sites for its first ground station, citing the need for controlled air space. In the future, Bhatt envisions building small, portable ground stations – ranging from five to 10 meters in diameter – to bring electricity to even the most remote locations.

The ultimate goal of Aetherflux's first mission is to demonstrate "end-to-end power linking," showcasing the ability to transmit electricity from space to Earth and power devices on the ground. While researchers at Caltech's Space Solar Power Project successfully demonstrated wireless power transfer from low-earth orbit using microwave beaming in 2023, Aetherflux is focused on developing a scalable, commercial system.

Aetherflux's funding raise comes on the heels of an award from the Department of Defense's Operational Energy Capability Improvement Fund to develop space solar power for the U.S. military. As the company moves forward with its ambitious plans, it will be interesting to see how its technology evolves and the potential impact it could have on the global energy landscape.

In an industry where few have successfully sent solar power from space to Earth, Aetherflux's progress will be closely watched. With its strong funding backing and experienced team, comprising engineers and researchers from NASA, SpaceX, Lockheed Martin, Anduril, and the U.S. Navy, the startup is poised to make significant strides in the space solar power sector.