Skyroot Aerospace Achieves Unicorn Status with Significant Funding

Hyderabad-based spacetech startup Skyroot Aerospace has successfully secured $60 million (approximately Rs 570 crore) in a funding round co-led by Sherpalo Ventures alongside Singapore’s sovereign wealth fund GIC. This round also saw investments from BlackRock, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and existing investors, including the founders of Greenko Group. Last month, Startup Superb exclusively reported on the company’s debt funding.

With this new funding, Skyroot’s valuation has surged past $1.1 billion, marking it as India’s first spacetech unicorn. Previously, in 2023, the startup was valued at around $550 million after raising $27 million in a pre-Series C financing round. The funds will be allocated towards enhancing manufacturing capabilities, increasing the frequency of Vikram-1 launches, and expediting the development of Vikram-2, a larger launch vehicle that is powered by a cryogenic stage.

As a part of the recent investment, Ram Shriram, the founder of Sherpalo Ventures, will join the board of Skyroot. Established in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace designs small to medium-lift launch vehicles to cater to the global satellite market. The company is developing its Vikram rocket series, which includes Vikram-I and Vikram-II, to provide on-demand, cost-effective, and flexible satellite launch services. The company made history as the first private Indian entity to launch a rocket into space with its Vikram-S mission in 2022.

By the conclusion of FY25 (March 2025), Skyroot Aerospace was still in the pre-revenue phase. Nevertheless, its losses increased to Rs 99.70 crore during the year, attributable to ongoing investments in research and development. With this latest infusion of capital, Skyroot has become the fourth startup to join the unicorn club in 2026, following KreditBee last month, Neysa in February, and Juspay, which reached a $1 billion valuation after a $50 million funding round led by WestBridge in January. Other well-capitalised spacetech startups in India include Agnikul, Pixxel, and Digantara.