After raising about USD 60 million in a funding round that valued the company at USD 1.1 billion, Hyderabad-based Skyroot Aerospace has emerged as India’s first spacetech unicorn.
The funding round was co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC, with participation from BlackRock, Playbook Partners, Arkam Ventures, and the Shanghvi Family Office.
In 2026, it becomes the fourth Indian startup to join the unicorn club, after AI startup Neysa and fintech companies KreditBee and Juspay.
Skyroot, which was founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, is building the Vikram series of launch vehicles with the objective of offering specialised satellite launch services to clients worldwide.
Earlier, the spacetech firm had grabbed the headlines when it launched Vikram-S, the first privately manufactured Indian rocket to reach space in 2022. It is currently getting prepared for the Vikram-1’s first orbital mission, which would be India’s first launch of a private orbital rocket.
“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector,” Chandana said.
According to the firm, the fresh investment would be used to expand production, boost the frequency of Vikram-1 launches, and expedite the construction of Vikram-2, a heavier launch vehicle driven by a cryogenic stage.
Satellites up to 350 kg in weight can be transported into low Earth orbit by Vikram-1. The rocket’s construction is made entirely of carbon composite, and its propulsion systems—which include 3D-printed engines—were created internally.
At its Max-Q and Infinity campuses in Hyderabad, in the southern Indian state of Telangana, Skyroot develops its rocket structures and propulsion systems.
Ram Shriram, a Silicon Valley investor and early backer of Google and Alphabet, will join the startup’s board as part of the investment.
