Aetherflux reportedly raising Series B at $2 billion valuation

Aetherflux, the innovative space solar power startup founded by Baiju Bhatt, who is also a cofounder of Robinhood, is in discussions to secure between $250 million and $350 million in a Series B funding round. This move could elevate the company's valuation to an impressive $2 billion, as reported by the Wall Street Journal. Leading this funding initiative is Index Ventures, marking a significant step for the company, which has raised approximately $80 million since its inception in 2024. In recent months, Aetherflux has redirected its focus, shifting from its initial vision of transmitting electricity to Earth via lasers to exploring power generation technologies aimed at supporting space-based data centers. This strategic pivot comes as prominent space companies, including SpaceX, Blue Origin, and Starcloud, are developing advanced infrastructures for distributed computing in space. During an interview with TechCrunch, Bhatt humorously remarked on the transition, stating, "Let the record show we never lifted our pivot foot — it wasn’t a travel." He elaborated that the realization hit about a year ago: to effectively power AI technologies, placing chips in space would be more beneficial than beaming power down to a data center on Earth. While Aetherflux continues to experiment with laser power transmission using a satellite bus from Apex Space, it anticipates launching its first data center satellite by 2027. Bhatt emphasizes that the goal is to create a competitive alternative to terrestrial energy economics, a challenging endeavor that the company is determined to pursue.