With the completion of its second pre-Series C funding round, Skyroot has also emerged as Hyderabad’s second major unicorn after human resources technology startup Darwinbox, which achieved unicorn status in early 2022.
The latest investment round was led by existing investors Sherpalo Ventures and GIC. New investors, including Blackrock managed funds, Playbook Partners and the Shanghvi family office, also participated in the round alongside existing backers such as the founders of Greenko Group and Arkam Ventures.
The development further strengthens Skyroot’s position as one of India’s fastest-growing private space technology companies. Following the fresh investment, Sherpalo founder Ram Shriram, an early investor in Skyroot and a board member at Alphabet Inc, will join the company’s board.
With this latest infusion, Skyroot Aerospace has now raised a total of 0 million, approximately Rs 1,515 crore, since its inception. The company plans to utilise the newly secured capital to expand manufacturing capabilities, invest in advanced machinery and testing infrastructure, and increase launch frequency from its upcoming Infinity campus in Hyderabad.
Speaking about the company’s expansion plans, co-founder and Chief Executive Officer Pawan Kumar Chandana said the new funding would help Skyroot achieve its long-term target of manufacturing one rocket every month. He also revealed that the company has witnessed strong interest from international customers, particularly from the United States, Europe and Southeast Asia.
As part of its orbital launch programme, Skyroot plans to conduct two to three rocket test launches before beginning full-scale commercial operations next year. The company is currently preparing for the highly anticipated launch of Vikram-1, which is expected to become India’s first privately built orbital launch vehicle.
Chandana described the upcoming mission as a defining moment for both India and the global space industry. He said the latest investment reflects growing confidence from some of the world’s most prominent investors in Skyroot’s technological capabilities and long-term vision.
The company is also developing Vikram-2, a next-generation one-tonne-class launch vehicle equipped with an advanced cryogenic upper stage. Skyroot had earlier created history in November 2022 by becoming the first private Indian company to send a rocket into space through the successful launch of its sub-orbital rocket, Vikram-S.
Although the company is currently in the pre-revenue stage, Chandana stated that revenue generation is expected to begin later this year as commercial launch operations commence. The achievement marks a significant turning point for India’s rapidly expanding private space industry and signals the emergence of Indian spacetech firms on the global stage.
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