Skyroot Aerospace has achieved a major milestone by becoming India’s first space-tech unicorn after raising $60 million in a fresh funding round. The Hyderabad-based startup is now valued at $1.1 billion, highlighting growing investor confidence in India’s private space industry.
The funding comes at an important stage for the company as it prepares for the launch of Vikram-1, its first orbital rocket mission. If successful, Vikram-1 will become the first privately developed Indian rocket to place satellites into orbit, marking a significant step for the country’s commercial space ambitions.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot has quickly emerged as one of India’s most promising space startups. The company first gained national attention in 2022 after launching Vikram-S, becoming the first Indian private company to send a rocket into space.
Skyroot said the newly raised funds will be used to expand manufacturing capacity, speed up rocket development, and increase launch frequency in the coming years. The company is also working on future launch vehicles and satellite deployment services as demand for low-cost commercial launches grows globally.
The latest investment round included participation from major global and domestic investors, underlining rising international interest in India’s growing space ecosystem. Industry experts believe the company’s unicorn status reflects how rapidly the country’s private space sector has evolved since the government opened the industry to startups and private companies.
The commercial satellite market has expanded significantly in recent years, with companies around the world looking for affordable and reliable launch partners. Skyroot aims to position itself as a key player in this market by offering cost-effective launch services for small satellites.
With strong investor backing, growing technological capabilities, and a landmark launch ahead, Skyroot is now entering a crucial phase in its journey to become a global space-tech company.
It is believed that the upcoming Vikram-1 mission will be a defining moment for the startup and could strengthen India’s standing in the global commercial space industry if successful.