$60 Million Raised by Skyroot Aerospace with a Valuation of $1.1 Billion

New Delhi: Skyroot Aerospace has secured $60 million at a $1.1 billion valuation with support from Singapore’s GIC and billionaire Ram Shriram’s venture business, making it India’s first spacetech unicorn. The funding comes just weeks before the planned launch of Vikram-1, India’s first privately developed orbital rocket.
Recently, the company transported the rocket’s flight hardware from Hyderabad to the Satish Dhawan Space Centre for launch preparations.

Skyroot’s valuation has now doubled from the $55 million mark it achieved three years ago, reflecting rising investor confidence in India’s fast growing private space sector.
According to Skyroot, the additional funding will be utilized to boost Vikram rocket launch frequency, expand production capacity, and advance the construction of Vikram-2, a heavier, one-tonne-class launch vehicle powered by a high-tech cryogenic stage.

At a time when demand for low-cost launches is rapidly increasing globally, the company wants to establish itself as a globally competitive satellite launch service. Skyroot had earlier made headlines in 2022 after successfully launching Vikram-S, India’s first privately built rocket to reach space.

 “This investment signals confidence from some of the world’s most reputed investors in Skyroot.” said co founder and CEO Pawan Kumar Chandana

Meanwhile, rival spacetech startup Agnikul Cosmos is also preparing for its own orbital launch mission after raising fresh funding last year.
With companies like Skyroot and Agnikul moving closer to commercial launches, India’s private space industry is emerging as a key area of global investor interest.