Indian space startup Skyroot’s Vikram S rocket.
Skyroot becomes unicorn with $60 million funding: HYDERABAD — India’s private space sector marked a historic milestone on May 7, as Skyroot Aerospace, the country’s leading private rocket company, announced raising nearly $60 million at a pre-money valuation of $1.1 billion, making it the nation’s first space-tech unicorn. The funding round comes at a pivotal moment, with the company preparing for the maiden flight of its Vikram-1 orbital rocket.
The round was co-led by Sherpalo Ventures and GIC, a global institutional investor, and attracted participation from existing Skyroot backers, including the founders of Greenko Group and Arkam Ventures. Ram Shriram, the founder of Sherpalo Ventures and a board member of Alphabet Inc., will join Skyroot’s board, bringing decades of tech investment experience. Other participants included funds managed by BlackRock, Playbook Partners, Shanghvi Family Office, and several other notable investors.
Funding to accelerate Vikram-1 launches, develop next-generation Vikram-2 rocket
The new capital injection reflects strong investor confidence in Skyroot’s mission to emerge as a leading global provider of space launch services. Skyroot plans to use the funds to establish a high cadence of Vikram-1 launches, scale up manufacturing capabilities, and develop Vikram-2, a one-tonne class launch vehicle featuring an advanced cryogenic stage. The development of Vikram-2 will broaden the company’s mission portfolio and expand services for a growing base of satellite operators worldwide.
Naga Bharath (L) and Pawan Chandana-Skyroot Aerospace.
The timing of the funding is closely aligned with Skyroot’s upcoming Vikram-1 launch, India’s first privately developed orbital-class rocket. Scheduled to lift off in the weeks following the announcement, Vikram-1 is designed to offer dedicated, customisable access to space for both domestic and international satellite operators. This follows Skyroot’s 2022 milestone with Vikram-S, India’s first privately built suborbital rocket.
“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,” said Pawan Kumar Chandana, Co-Founder & CEO of Skyroot Aerospace. “This investment signals confidence from some of the world’s most reputed investors in Skyroot.”
Ram Shriram, whose Sherpalo Ventures co-led the funding round, praised Skyroot’s trajectory and team. “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,” Shriram said. “Access to space is one of the key challenges of our time. 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.”
Industry analysts say Skyroot’s unicorn status not only validates India’s emerging private space sector but also underscores the growing global appetite for cost-effective, private orbital launch solutions. With the Vikram-1 launch imminent, the company is set to cement its position at the forefront of India’s commercial space revolution.
Skyroot’s success highlights a new chapter in India’s space ambitions, demonstrating that private enterprise can play a transformative role in what was once the exclusive domain of national space agencies. The upcoming Vikram-1 mission is expected to further showcase India’s capabilities in developing low-cost, high-performance orbital launch solutions.
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