Skyroot Aerospace Becomes India's First Space-Tech Unicorn with $60M Raise Ahead of Vikram-1 Launch
Tags Infrastructure · Research
Hyderabad-based Skyroot Aerospace raised $60 million in a round co-led by Sherpalo Ventures and Singapore's GIC, achieving unicorn status at a $1.1 billion valuation — India's first space-tech startup to cross the billion-dollar mark. Founded by former ISRO scientists Pawan Kumar Chandana (CEO) and Naga Bharath Daka, the company is preparing for Vikram-1 — India's first privately developed orbital rocket — with launch from Sriharikota expected in coming weeks. Vikram-1 can carry up to 350 kg to low Earth orbit. The company previously launched Vikram-S (suborbital) in November 2022, the first private Indian rocket to reach space. Fresh capital will fund increased launch frequency, manufacturing expansion, and development of Vikram-2.
Technical significance
Skyroot's unicorn milestone validates India's spacetech ecosystem and the commercial viability of small-launch vehicles. The Vikram-1 orbital launch, if successful, would make India the first country with a privately developed orbital rocket, opening the door to a commercial small-satellite launch market. The involvement of GIC (Singapore's sovereign wealth fund) and Sherpalo (early Google investor Ram Shriram) signals international confidence in India's space commercialization.