New Delhi, India – Spacetech startup Skyroot Aerospace has successfully raised $60 million (approximately ₹570 crore) in a recent funding round, a significant development that propels the company to unicorn status with a valuation of $1.1 billion. The round was co-led by prominent investors Sherpalo Ventures, managed by American billionaire Ram Shriram, and Singapore’s sovereign wealth fund GIC.
The investment also saw participation from major players including BlackRock, Playbook Partners, Shanghvi Family Office, and existing investors such as the founders of Greenko Group and Arkam Ventures. Following this funding, Ram Shriram is set to join Skyroot’s board of directors.
This latest funding round effectively doubles Skyroot’s pre-money valuation from $550 million in 2023. To date, the company has secured a total of $155 million in funding, including a $51 million Series B round in 2022.
Founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace specializes in developing modular space launch vehicles tailored for the small satellite market. The company aims to leverage this new capital to facilitate regular launches of its Vikram-1 rocket, enhance its manufacturing capabilities, and broaden its mission scope.
Skyroot is currently preparing for the maiden launch of Vikram-1, which is slated to be India’s first privately developed orbital rocket. The company also intends to advance the development of its next-generation rocket, Vikram-2, a 1-tonne class launch vehicle featuring an advanced cryogenic stage.
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