Skyroot Aerospace has become India’s first space technology unicorn after raising $60 million in a fresh funding round backed by investors including Sherpalo Ventures, GIC and BlackRock. The funding has pushed the Hyderabad based startup’s valuation beyond the one billion dollar mark, marking a major milestone for India’s private space sector.
The latest investment comes as private space companies in India continue to attract investor interest following regulatory reforms and increased government support for commercial space activity. Skyroot Aerospace plans to use the capital to accelerate rocket development, expand infrastructure and strengthen its satellite launch capabilities.
The startup has been building the Vikram series of launch vehicles focused on low cost and responsive satellite launches for domestic and international customers. It is also expanding manufacturing, testing and launch infrastructure as competition in the global small satellite launch market intensifies.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, the company develops launch vehicles for small satellite missions. Skyroot gained industry attention after successfully launching Vikram S, India’s first privately developed rocket, in 2022.
India’s space technology ecosystem has seen rapid growth in recent years following the opening up of the sector to private players. Startups across launch systems, satellite manufacturing and space data services have attracted funding from domestic and global investors amid growing demand for commercial space applications.
