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Skyroot Aerospace Becomes India’s First Space-Tech Unicorn

Skyroot Aerospace has raised $60 million in a funding round led by Sherpalo Ventures and GIC, achieving a $1.1 billion valuation and becoming India's first space-tech unicorn. The company is preparing for the launch of Vikram-1, India's first privately developed orbital rocket. The fresh capital will be used to increase launch frequency, expand manufacturing, and develop the next-generation Vikram-2 launch vehicle. The milestone signals growing global investor confidence in India's private space sector.

Key Points: Skyroot Aerospace: India’s First Space-Tech Unicorn

  • Skyroot raises $60M led by Sherpalo & GIC
  • Valuation reaches $1.1B, India's first space-tech unicorn
  • Preparing for Vikram-1 orbital rocket launch
  • Funds to boost launch frequency, manufacturing, and Vikram-2 development
2 min read

Skyroot Aerospace becomes India's first space-tech unicorn, raises $60 million

Skyroot Aerospace raises $60M, becomes India’s first space-tech unicorn with a $1.1B valuation. Vikram-1 launch planned soon.

"Skyroot's unicorn status reflects the growing technological and commercial capabilities of Indian space startups. - Lt. Gen. A.K. Bhatt (Retd.)"

New Delhi, May 7

Hyderabad-based private space launch startup Skyroot Aerospace on Thursday said it has raised $60 million in a fresh funding round led by existing investors Sherpalo Ventures and Singapore's sovereign wealth fund GIC, becoming India's first space-tech unicorn.

The latest investment round also saw participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office and several other investors.

While Playbook Partners and Shanghvi Family Office joined the company as new investors, Sherpalo Ventures, GIC, BlackRock, Greenko Group and Arkam Ventures were existing backers of the space-tech startup.

Following the fresh capital infusion, Skyroot Aerospace's valuation has climbed to $1.1 billion, more than doubling from its previous valuation of nearly $519 million in 2023.

Lt. Gen. A.K. Bhatt (Retd.), Director General of the Indian Space Association (ISpA), described the development as a landmark moment for India's private space ecosystem. He said Skyroot's unicorn status reflects the growing technological and commercial capabilities of Indian space startups and signals rising global investor confidence in the country's space sector.

According to him, the milestone could further strengthen India's ambitions of increasing its share in the global space economy by 2033.

Meanwhile, Skyroot co-founder and CEO Pawan Kumar Chandana said the company is preparing for the launch of Vikram-1, India's first privately developed orbital rocket, in the coming weeks.

He added that the latest funding round reflects strong investor confidence in the company's long-term vision and launch capabilities.

The company said the fresh capital will be used to increase launch frequency for Vikram-1, expand manufacturing capabilities and support the development of Vikram-2, a next-generation launch vehicle with a one-tonne payload capacity and an advanced cryogenic upper stage.

Skyroot noted that its 2022 Vikram-S mission successfully demonstrated the company's launch technology, while Vikram-1 is designed to carry payloads into orbit.

Sherpalo Ventures Founder and Managing Partner Ram Shriram said he has backed Skyroot since its early days and expressed confidence in the startup's progress towards the Vikram-1 mission.

The latest round has taken Skyroot Aerospace's total funding to more than $160 million, or around Rs 1,500 crore.

- IANS

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Reader Comments

M
Michael C
This is impressive growth, but I hope the focus remains on sustainable development and not just valuation. Space tech is capital intensive—$60 million is a lot, but rockets don’t come cheap. Let’s see if they can deliver on Vikram-1’s launch timeline.
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Priya S
So happy to see a Hyderabad startup making waves! 🎉 From chai stalls to space rockets—India’s startup story is something else. I just wish the government also invests more in basic R&D and not leave everything to private players. But kudos to Pawan Kumar Chandana and team! 🙌
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Deepak U
Great news for Atmanirbhar Bharat! But I’m curious—how exactly does a company go from $519 million to $1.1 billion valuation in just two years without launching a single orbital rocket? Vikram-1 is still pending. Hope the hype translates into real payload capacity.
A
Ananya R
Reading this while sipping chai in Bengaluru—what a time to be alive! 🚀 If a startup from Hyderabad can do this, imagine what Agnikul, Pixxel, and others will achieve. The space economy is finally opening up. Let’s hope ISRO’s legacy inspires more such successes.
J
Jessica F
Amazing achievement! But I’d love to see more transparency on how the funds are being used (Launch frequency? Manufacturing?). Also, how does Skyroot plan to compete with global players like SpaceX or Rocket Lab? India has the talent—now we need the execution at scale.

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