Our Bureau
Hyderabad
Skyroot Aerospace has become India’s first space-tech unicorn after raising $60 million (around Rs 570 crore) in a funding round. The company is now valued at $1.1 billion, up from around $519 million in 2023.
The round was co-led by Ram Shriram’s Sherpalo and Singapore’s sovereign wealth fund GIC. Other investors include BlackRock, founders of renewable energy company Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and more. Sherpalo, GIC, BlackRock, Greenko Group, and Arkam Ventures were existing backers, while Playbook Partners and Shanghvi Family Office are new.
“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket,” said Pawan Kumar Chandana, co-founder and CEO of Skyroot Aerospace. “This investment signals confidence from some of the world’s most reputed investors in Skyroot.”
Ram Shriram, Founder and Managing Partner of Sherpalo Ventures, added, “I’ve believed in the Skyroot team since the early days. Skyroot is building the foundational infrastructure for access to space with the best cost-to-performance ratio.”
Founders Naga Bharath Daka and Pawan Kumar Chandana lead the private space launch company. Skyroot made an orbital launch in 2023 and plans another soon. The fresh funds will help set up high-cadence Vikram-1 launches, scale manufacturing, and build Vikram-2, a 1-tonne class launch vehicle with an advanced cryogenic stage.
This brings Skyroot’s total funding to over $160 million (Rs 1,500 crore). The startup is now India’s most well-funded in space-tech and leads the private space race.
