"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 BlackRock."
"Founded in 2018 by former Indian Space Research Organization (ISRO) engineers Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is building small satellite launch rockets broadly comparable to those developed by U.S.-based companies such as Rocket Lab and Firefly Aerospace, with Vikram-1 designed to carry payloads of up to 350 kilograms (around 772 pounds) into low Earth orbit."
"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. The round drew participation from Playbook Partners, Arkam Ventures, and the founders of Greenko Group."
Skyroot Aerospace, founded in 2018 by former ISRO engineers, has secured $60 million in funding comprising $50 million in primary equity and $10 million in structured debt, reaching a $1.1 billion pre-money valuation. The Hyderabad-based startup is preparing for India's first private orbital rocket launch with its Vikram-1, designed to carry payloads up to 350 kilograms to low Earth orbit. The funding round, co-led by Sherpalo Ventures and GIC, more than doubled the company's previous $500 million valuation from 2023. Skyroot targets a June launch after completing flight qualification tests. The company reports strong demand for dedicated small satellite launches, with approximately one-third of expected demand from India and the remainder from international customers.
#indian-space-startups #private-space-launch #venture-funding #satellite-launch-vehicles #space-technology-unicorns
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