Indian startup Skyroot Aerospace raises $60 million
The funding round comes as the Hyderabad-based company prepares for the flight of Vikram-1, India’s first privately developed orbital rocket.
Indian spacetech startup Skyroot Aerospace has raised USD 60 million in a fresh round of funding at a valuation of USD 1.1 billion.
This equity round was co-led by Sherpalo Ventures and GIC, with participation from funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Paybook Partners, Shanghvi Family Office, and other investors, Skyroot said.
The funding round comes as the Hyderabad-based company prepares for the flight of Vikram-1, India’s first privately developed orbital 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 and CEO of Skyroot Aerospace. “This investment signals confidence from some of the world’s most reputed investors in Skyroot.”
“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, lndia’s first private orbital-class rocket,” said Ram Shriram, Founder & Managing Partner, Sherpalo Ventures. “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.”