India’s first space tech unicorn emerges as Skyroot gears up for orbital launch
Key takeaways
- Skyroot Aerospace has become India s first space tech unicorn after raising $60 million in a new investment ahead of the maiden orbital launch of its Vikram-1 rocket in the coming weeks.
- The investment comes as Skyroot prepares for the first orbital launch attempt by an Indian private company.
- Skyroot s latest valuation more than doubles from the $500 million pre-money valuation it secured during its previous funding round in 2023, as global investors increase bets on India s emerging private space sector.
Skyroot Aerospace has become India s first space tech unicorn after raising $60 million in a new investment ahead of the maiden orbital launch of its Vikram-1 rocket in the coming weeks.
The funding round valued the Hyderabad-based startup at $1.1 billion on a pre-money basis and included about $50 million in primary equity co-led by Sherpalo Ventures and GIC, along with around $10 million in structured debt managed by funds affiliated with Black Rock, the company told Tech Crunch.
The investment comes as Skyroot prepares for the first orbital launch attempt by an Indian private company. The Vikram-1 rocket was flagged off to India s spaceport on the southern island of Sriharikota in April, and the startup is targeting a June launch after completing flight qualification tests and beginning integration and launch campaign activities.