Hyderabad, May 8, (CXO Media): India’s private space sector is moving closer to a major milestone. Skyroot Aerospace has become India’s first spacetech unicorn after raising nearly $60 million in a funding round that valued the Hyderabad-based startup at $1.1 billion. The development comes as the company prepares for the launch of Vikram-1, expected to become India’s first privately developed orbital rocket mission.
The funding round was co-led by Sherpalo Ventures and Singapore sovereign fund GIC, with participation from BlackRock, Playbook Partners, Arkam Ventures and the Shanghvi Family Office. The latest deal takes Skyroot’s total funding to nearly $160 million.
Founded in 2018 by former Indian Space Research Organisation scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is building launch vehicles focused on the growing global satellite launch market. The startup had earlier launched Vikram-S in 2022, becoming the first private Indian company to send a rocket into space.
Why Vikram-1 Matters For India’s Space Sector
The upcoming Vikram-1 mission is being closely watched across India’s space and startup ecosystem. If successful, it would mark India’s first private orbital rocket launch at a time when the country is pushing to expand its share in the global commercial space market.
Vikram-1 is designed to carry satellites weighing up to 350 kg into low Earth orbit. The rocket uses carbon composite structures and 3D-printed engines developed in-house at Skyroot’s Hyderabad facilities.
The company said the fresh capital will be used to scale manufacturing, increase launch frequency and accelerate development of Vikram-2, a heavier rocket with a cryogenic stage.
The funding also signals rising investor interest in India’s deeptech and spacetech sectors, especially as private companies begin playing a larger role in satellite launches and space infrastructure.
Silicon Valley investor Ram Shriram, an early backer of Google, will join Skyroot’s board as part of the investment round.
Skyroot is now the fourth Indian startup to enter the unicorn club in 2026 after KreditBee, Juspay and Neysa.
