Skyroot Aerospace Enters Unicorn Club
Hyderabad-based spacetech startup Skyroot Aerospace has raised $60 million (around ₹570 crore) in a new funding round, pushing its valuation beyond $1.1 billion.
With this milestone, Skyroot has officially become India’s first spacetech unicorn.
Investors Backing the Funding Round
The funding round was co-led by:
- Sherpalo Ventures
- GIC
Other participants included:
- BlackRock
- Arkam Ventures
- Playbook Partners
- Shanghvi Family Office
- Existing investors and founders of Greenko Group
As part of the investment, Sherpalo Ventures founder Ram Shriram will join Skyroot’s board.
Focus on Rocket Development and Launch Expansion
The fresh capital will be used to:
- Scale manufacturing capabilities
- Increase the launch frequency of Vikram-1
- Accelerate development of Vikram-2
Vikram-2 is being designed as a heavier launch vehicle powered by a cryogenic stage, enabling more advanced satellite missions.
Building India’s Private Space Launch Ecosystem
Founded in 2018 by former ISRO scientists:
- Pawan Kumar Chandana
- Naga Bharath Daka
Skyroot Aerospace develops:
- Small-lift launch vehicles
- Medium-lift rockets
- Flexible satellite launch solutions
The company focuses on providing cost-effective and on-demand satellite launch services for global customers.
Vikram Rocket Program
Skyroot is currently working on its Vikram series of rockets, including:
- Vikram-I
- Vikram-II
In 2022, the startup made history by launching Vikram-S, becoming the first private Indian company to launch a rocket into space.
This milestone significantly boosted India’s private space ecosystem.
Financial Performance and R&D Investments
Skyroot remained in the pre-revenue stage at the end of FY25.
However, the company reported:
- Losses of ₹99.70 crore
The losses were primarily due to:
- Heavy investments in research and development
- Rocket testing and infrastructure expansion
Such investments are common in deeptech and aerospace sectors where long development cycles are required.
India’s Growing Spacetech Ecosystem
Skyroot’s unicorn status highlights the rapid growth of India’s spacetech sector.
Other emerging players in the ecosystem include:
- Agnikul
- Pixxel
- Digantara
India’s space sector is attracting increasing investor interest following regulatory reforms and private sector participation.
Fourth Unicorn of 2026
Skyroot becomes the fourth startup to enter India’s unicorn club in 2026, following:
- KreditBee
- Neysa
- Juspay
Final Thoughts
Skyroot Aerospace’s unicorn milestone marks a historic moment for India’s private space industry.
With strong investor backing, advanced launch vehicle development, and increasing global demand for satellite launches, the company is positioning itself as a major player in the global spacetech market.
As India continues opening its space sector to private companies, startups like Skyroot could play a defining role in shaping the country’s future in aerospace and satellite technology.
