Skyroot Aerospace Becomes India’s First SpaceTech Unicorn: Valuation Hits ₹10,000 Crore Following ₹500 Crore Funding; Preparations for Vikram-1 Rocket Launch Intensify

Hyderabad-based Skyroot Aerospace has raised $60 million—approximately ₹500 crore—in funding. Following this investment, the company’s valuation has reached $1.1 billion, or roughly ₹10,000 crore. It is the country’s first space startup to join the coveted unicorn club.

Manufacturing and Development of Vikram-2 Rocket to Accelerate

CEO Pawan Kumar Chandana stated that the funding will be utilized for three key purposes:

First, to establish a system for regular launches of Vikram-1. This entails ensuring that a rocket can be launched every few months, thereby initiating a revenue stream for the company by deploying customer satellites into space.

Second, to scale up manufacturing capabilities to enable the simultaneous production of multiple rockets. Large-scale production will reduce rocket manufacturing costs, allowing Skyroot to compete effectively with other companies.

Third, to develop the Vikram-2 rocket. This rocket will be capable of carrying payloads of up to 1,000 kg into space. It will feature an advanced cryogenic stage.

Critical Components of Vikram-1 Dispatched to Sriharikota; Launch Imminent

This funding arrives at a time when the company is gearing up for the maiden flight of its first private orbital rocket, ‘Vikram-1’. Skyroot recently transported critical components of the rocket from its manufacturing facility in Hyderabad to Sriharikota, Andhra Pradesh.

The company plans to launch the rocket within the next few weeks. The startup asserts that its services for deploying satellites into their respective orbits will be the most affordable in the world.

Google’s Early Investor, Ram Shriram, to Join the Board

This funding round was led by global institutional investors Sherpalo Ventures and GIC. Existing investors, such as the founders of Greenko Group and Arkam Ventures, also participated in this round.

Ram Shriram, an early investor in Google, will now join Skyroot’s board. In addition to these, BlackRock, Playbook Partners, and the Sanghvi Family Office have also invested.