Vikram-1 launch vehicle on a modern Indian space launch pad.
Skyroot Aerospace, an Indian spacetech company, is reportedly in the market to raise $200 million in a new funding round. The company is seeking this capital at a valuation of $2 billion, a significant increase from its previous $1.1 billion valuation in May.
Sources indicate that Skyroot has adopted an unusual approach for this fundraising, inviting investors to submit bids rather than following a traditional negotiation process. The company aims to finalize the round within the next two months, with a preference for onboarding domestic investors. Existing backers such as GIC and Temasek, alongside domestic asset manager 360 One Asset, are reportedly considering participation.
The move comes shortly after Skyroot’s successful maiden mission, where it became the first private Indian company to launch a rocket into Earth’s orbit. The Vikram-1 launch vehicle successfully deployed customer payloads into a 450-km Low Earth Orbit (LEO).
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace specializes in developing modular launch vehicles for the global small satellite market. The company has raised over $150 million to date from investors including Sherpalo Ventures, Temasek, and BlackRock.
Skyroot plans further Vikram-1 launches this year, with an upgraded version, Vikram-1U, slated for early 2027. The development of Vikram-2, a one-tonne-class launch vehicle, is also underway. The company’s efforts are situated within the rapidly growing Indian spacetech economy, projected to reach $77 billion by 2030.
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