Skyroot Aerospace India’s leading private space launch company, has raised nearly $60 million in fresh funding, taking its valuation to $1.1 billion and officially making it a unicorn startup.
The funding comes at a crucial stage as the Hyderabad-based company prepares for the maiden launch of its orbital rocket, Vikram-1.
Funding Round Led by Global Investors
The investment round was co-led by Sherpalo Ventures and GIC, Singapore’s sovereign wealth fund and global institutional investor.
Several existing and new investors also participated in the round, including:
- Founders of Greenko Group
- Arkam Ventures
- Funds managed by Black Rock
- Playbook Partners
- Shanghvi Family Office
The company stated that the investment reflects strong global confidence in Skyroot’s long-term growth and technological capabilities.
Ram Shriram Joins Skyroot Board
Ram Shriram, a prominent Silicon Valley investor and board member of Alphabet Inc., will join Skyroot Aerospace’s board following the investment.
Shriram praised Skyroot’s progress and highlighted the company’s role in solving one of the world’s key challenges — affordable access to space.
Focus on Vikram-1 Orbital Rocket Launch
The newly raised capital will primarily support:
- High-frequency Vikram-1 launches
- Expansion of manufacturing capacity
- Development of the next-generation Vikram-2 launch vehicle
Vikram-1 is expected to become India’s first privately developed orbital-class rocket.
The launch is expected to take place within weeks after the funding announcement.
What Makes Vikram-1 Important?
Vikram-1 is designed to provide dedicated and customizable launch services for small satellite operators globally.
Key features of the rocket include:
- Capability to carry satellites up to 350 kg to Low Earth Orbit (LEO)
- All-carbon composite structure
- In-house developed propulsion systems
- 3D-printed engines
- Rapid manufacturing capability
The rocket has been engineered for cost efficiency and a high launch frequency.
Building on the Success of Vikram-S
- Skyroot previously created history in 2022 by launching Vikram-S, becoming the first Indian private company to send a rocket into space.
- The upcoming Vikram-1 mission represents the company’s next major milestone and India’s first private attempt at an orbital launch mission.
Development of Vikram-2 Underway
- The company also announced plans to develop Vikram-2, a one-tonne-class launch vehicle powered by an advanced cryogenic stage.
- The new rocket is expected to significantly expand Skyroot’s launch capabilities and customer base in the growing global satellite market.
Founded by Former ISRO Engineers
Skyroot Aerospace was founded by Pawan Kumar Chandana and Naga Bharath Daka with the vision of democratizing access to space.
The company develops launch vehicles and propulsion technologies at its Max-Q and Infinity campuses in Hyderabad.
Its technology portfolio includes:
- Carbon composite rocket structures
- Kalam series solid propulsion systems
- Raman series liquid engines
- Dhawan series cryogenic propulsion systems
India’s Private Space Sector Gaining Momentum
- Skyroot’s unicorn status highlights the rapid growth of India’s private space ecosystem following reforms that opened the sector to private participation.
- With increasing investor interest, technological advancements, and support from the Indian government, private space companies are emerging as major contributors to India’s space ambitions.
- Skyroot aims to make spaceflight “as regular, reliable, and affordable as air travel” under its mission of “Opening Space for All.”