Hyderabad-based Skyroot Aerospace has raised $60 million (approximately Rs 570 crore) in a fresh funding round led by existing investors alongside several new backers. The investment round included participation from Sherpalo, Singapore’s sovereign wealth fund GIC, BlackRock, the founders of renewable energy company Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and other investors, the company announced on May 7.
Notably, the founders of Greenko Group, Playbook Partners, and Shanghvi Family Office joined the company as new investors. Meanwhile, Sherpalo, GIC, BlackRock, and Arkam Ventures strengthened their existing commitments to the Hyderabad-based private space launch company. Furthermore, Sherpalo and GIC co-led the funding round.
Following the latest investment, Skyroot Aerospace achieved a valuation of $1.1 billion, significantly increasing from nearly $550 million in 2023. Consequently, the company has emerged as India’s first space-tech unicorn and now ranks among the country’s most well-funded space startups. The milestone also highlights the rapid growth of India’s private space sector and the increasing global investor interest in space technology, satellite launch services, orbital rockets, and aerospace innovation.
“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector. This investment signals confidence from some of the world’s most reputed investors in Skyroot,” said Pawan Kumar Chandana, co-founder & CEO, Skyroot Aerospace.
The company successfully completed an orbital launch in 2023 and is currently preparing for another launch scheduled in the coming weeks. At the same time, the startup continues expanding its launch capabilities to strengthen India’s position in the global commercial space market.
“I’ve believed in the Skyroot team since the early days, and that conviction has only deepened as the team marches forward to the launchpad with Vikram-1, India’s first private orbital-class rocket. Access to space is one of the key challenges of our time,” said Ram Shriram, Founder & Managing Partner, Sherpalo Ventures.
“Skyroot is building the foundational infrastructure for that future with the best cost-to-performance ratio in the orbital-launch industry, and what the team has achieved is remarkable. I am proud to deepen my partnership with them as they take their next giant leap,” he added.
The company plans to use the newly raised capital to establish a higher launch cadence for Vikram-1 missions, scale manufacturing operations, and accelerate the development of Vikram-2, a one-tonne class launch vehicle powered by an advanced cryogenic stage. Additionally, the expansion will allow Skyroot Aerospace to serve a broader range of customers and support more complex space missions across international markets.
With this latest funding round, Skyroot Aerospace has now raised more than $160 million (around Rs 1,500 crore) in total funding. The development further reinforces investor confidence in India’s booming space-tech ecosystem, private rocket launch industry, satellite deployment market, and next-generation aerospace infrastructure.
Skyroot Aerospace’s latest funding milestone marks a transformative moment for India’s private space industry. As the company moves closer to the launch of Vikram-1 and advances the development of future launch vehicles, Skyroot continues strengthening India’s global presence in commercial space exploration, orbital launch technology, and aerospace innovation.
