Skyroot becomes India’s first spacetech unicorn after $60 Mn funding round
- ByStartupStory | May 8, 2026
Hyderabad-based spacetech startup Skyroot Aerospace has raised $60 million (around Rs 570 crore) in a funding round co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC.
The round also saw participation from BlackRock, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and existing investors, including the founders of Greenko Group.
Entrackr had exclusively reported on Skyroot’s debt funding last month.
With the fresh round, Skyroot’s valuation has crossed $1.1 billion, making it India’s first spacetech unicorn. The startup was valued at around $550 million in 2023 after raising $27 million in a pre-Series C round.
The proceeds will be used to scale manufacturing, increase the frequency of Vikram-1 launches, and accelerate the development of Vikram-2, a heavier launch vehicle powered by a cryogenic stage.
As part of the latest investment, Sherpalo Ventures founder Ram Shriram will join Skyroot’s board.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace builds small and medium-lift launch vehicles for the global satellite market.
The company is working on its Vikram series of rockets, including Vikram-I and Vikram-II, aimed at providing on-demand, cost-effective, and flexible satellite launch services. It also became the first private Indian company to launch a rocket into space with its Vikram-S mission in 2022.
Skyroot Aerospace remained in the pre-revenue stage by the end of FY25 (March 2025). However, its losses widened to Rs 99.70 crore during the year due to continued investments in research and development.
With the latest round, Skyroot has become the fourth startup to enter the unicorn club in 2026 after KreditBee last month, Neysa in February, and Juspay, which attained a $1 billion valuation following a $50 million round led by WestBridge in January. Other well-funded spacetech startups in India include Agnikul, Pixxel, and Digantara.
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