A $50 Million Investment is Raised by Robinhood Billionaire's Space Solar Startup

A Silicon Valley startup led by billionaire Baiju Bhatt, co-founder of Robinhood Markets Inc., is securing fresh funding to advance its ambitious plan to create a solar power grid in space.

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Aetherflux Inc., the company Bhatt founded, is set to announce a $50 million funding round on Wednesday.

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The investment is co-led by venture firms Index Ventures and Interlagos, with additional backing from Andreessen Horowitz, New Enterprise Associates, and Breakthrough Energy Ventures—a firm chaired by Microsoft co-founder Bill Gates. Bhatt noted that Index Ventures, New Enterprise Associates, and Andreessen Horowitz were among the early investors in Robinhood.

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Aetherflux is working on a technology that will use lasers to beam solar energy from satellites in low-Earth orbit to ground-based receiving stations.

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“For nearly five decades, this concept has been more of a science fiction idea than a viable reality,” Bhatt said in an interview ahead of the official announcement. He emphasized that Aetherflux’s mission is to transform what was once an imaginative theory into a practical solution.

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Based in San Carlos, California, the company previously received $10 million from Bhatt himself. The entrepreneur, who was Robinhood’s chief creative officer until March of last year and remains on the firm’s board, has a net worth of $2.6 billion, according to Bloomberg estimates.

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The latest funding will support Aetherflux’s goal of launching its first satellite aboard a SpaceX rocket next year, Bhatt stated. However, he declined to disclose the valuation the company received in this funding round.

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Aetherflux currently has a team of around 20 employees, but achieving its vision of delivering space-based solar power to customers will require overcoming substantial technological challenges, said Achal Upadhyaya, founder and general partner at Interlagos.

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This involves directing a high-powered laser from low-Earth orbit down to the planet’s surface,” Upadhyaya explained. “No one has yet demonstrated a consistent and practical way to do this.”

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Despite the technical hurdles, Upadhyaya sees Bhatt’s experience at Robinhood as a strong advantage.

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“The fact that he successfully broke into a highly regulated industry and introduced innovation despite significant regulatory obstacles gives me confidence in his ability to execute on this vision,” said Upadhyaya, who spent a decade at SpaceX.

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For now, Aetherflux is not providing a timeline for building a full network of satellites. Bhatt emphasized that the immediate priority is successfully deploying a single satellite.

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“Getting past that first milestone will position us to refine the technologies necessary for scaling up,” he said.

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