Billionaire Robinhood co-founder Baiju Bhatt backs space-based solar startup

Robinhood co-founder Baiju Bhatt has taken a bold step into the space industry by backing Aetherflux, a startup focused on space-based solar power. Bhatt, who founded the company after stepping down from Robinhood, aims to build a network of solar power stations in space that will transmit energy to Earth. The ambitious project seeks to revolutionize energy distribution, especially in hard-to-reach areas like remote military bases, islands, or regions affected by disasters.

Aetherflux is preparing for its first mission, expected around 2025 or 2026, with plans to launch a demonstration spacecraft. Bhatt is personally funding the venture, having already invested millions of his own capital. His passion for space is deeply rooted, inspired by his father’s career at NASA and his academic background in physics and mathematics from Stanford University.

This isn’t Bhatt’s first venture into space-related businesses. He recently participated in a $6.5 million seed round for another space-based solar startup, Reflect Orbital, alongside notable investors like Sequoia Capital.

Bhatt envisions space solar power as a revolutionary renewable energy source that could provide affordable and sustainable energy to various sectors worldwide​.

Source: americanbazaaronline.com