Skyroot Aerospace becomes India’s first spacetech unicorn after $60 million fundraise
07 May 2026, 01:12 PMThe funding round was co-led by Sherpalo Ventures and Singapore's sovereign wealth fund GIC.
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Spacetech startup Skyroot Aerospace has raised $60 million (around Rs 570 crore) in a funding round co-led by Sherpalo Ventures and Singapore's sovereign wealth fund GIC.
The funding round was done at a valuation of over $1.1 billion, catapulting the Hyderabad-based startup to the famed unicorn club of startups.
The investment round also saw participation from BlackRock, Arkam Ventures, Playbook Partners, and Shanghvi Family Office, alongside existing backers including the founders of Greenko Group.
Skyroot plans to deploy the fresh capital to scale its manufacturing operations, ramp up the launch frequency of its Vikram-1 rocket, and fast-track the development of Vikram-2 -- a heavier launch vehicle powered by a cryogenic stage.
The startup was founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, both former ISRO scientists. Chandana, who serves as CEO, previously worked on satellite systems at ISRO, while Daka, the COO, specialised in propulsion. Together, they set out to build affordable, on-demand launch vehicles for the global small satellite market.
Skyroot's Vikram series of rockets — ranging from small to medium-lift configurations — is designed to offer flexible and cost-effective access to space. In 2022, Skyroot became the first private Indian firm to launch a rocket into space with its Vikram-S mission.
As part of the investment, Sherpalo Ventures founder Ram Shriram will join Skyroot's board of directors.
Prior to this round, Skyroot had raised $27 million in a pre-Series C round in 2023, at which point the company was valued at around $550 million.
Other well-funded players in India's spacetech ecosystem include Agnikul, Pixxel, and Digantara.
In November last year, Agnikul had raised$17 million at a $500 million valuation.
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