New Delhi, May 7 — Hyderabad-based private launch startup Skyroot Aerospace has raised $60 million in a fresh funding round led by existing investor Sherpalo Ventures and Singapore’s sovereign wealth fund GIC, taking the company past the $1 billion mark and making it India’s first space-tech unicorn with a post-money valuation of $1.1 billion.
The round also saw participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners and the Shanghvi Family Office, among other investors. Playbook Partners and the Shanghvi Family Office joined as new backers, while Sherpalo Ventures, GIC, BlackRock, Greenko Group and Arkam Ventures were already investors in the startup.
Skyroot’s valuation more than doubled from about $519 million in 2023. The latest financing brings the company’s total funding to over $160 million, roughly Rs 1,500 crore.
Lt. Gen. A.K. Bhatt (Retd.), Director General of the Indian Space Association (ISpA), called the development a “landmark moment” for India’s private space ecosystem, saying Skyroot’s unicorn status reflects growing technological and commercial capabilities among Indian space startups and signals rising global investor confidence. He added that the milestone could bolster India’s efforts to increase its share of the global space economy by 2033.
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,” and that the new funding demonstrates strong investor faith in the firm’s long-term vision and launch capabilities.
The company said the fresh capital will be used to increase Vikram-1 launch frequency, expand manufacturing capacity and support development of Vikram-2 — a next-generation vehicle planned to carry one tonne to orbit and to feature an advanced cryogenic upper stage. Skyroot noted that its 2022 Vikram-S mission successfully validated the firm’s launch technology, while Vikram-1 is designed specifically to place payloads into orbit.
Sherpalo Ventures founder and managing partner Ram Shriram, an early backer of Skyroot, reiterated his confidence in the startup’s progress toward the Vikram-1 mission.
Original Source: https://assamtribune.com/sci-and-tech/skyroot-aerospace-hits-unicorn-status-with-60-mn-funding-1611344
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Publish Date: 2026-05-07 13:07:00
