Spacetech Startup Skyroot Unveils Indigenously Built Vikram-1 Rocket

• ByStartupStory     |    October 25, 2023

Inauguration of MAX-Q Campus by Minister Jitendra Singh

Spacetech startup Skyroot Aerospace reached a remarkable milestone on Tuesday, October 24, as they unveiled their indigenously developed orbital space launch vehicle, Vikram-I. The grand inauguration ceremony took place at the company’s new headquarters, the MAX-Q Campus, situated within the GMR Aerospace and Industrial Park in South Hyderabad. The event was graced by the presence of Minister of State for Science and Technology, Dr. Jitendra Singh.

In a tweet shared by Skyroot’s official handle, the momentous occasion was described as “an incredibly proud moment,” marking the launch of the Vikram-I rocket and the inauguration of the MAX-Q Campus, a facility that is being lauded as one of the world’s largest private rocket factories under a single roof.

Vikram-I: A Leap in Space Technology

Vikram-I, Skyroot Aerospace’s latest creation, stands out as a multi-stage launch vehicle with the capacity to carry payloads of up to 300 kg into low-earth orbits. Scheduled for launch in early 2024, Vikram-I boasts a cutting-edge design featuring an all-carbon fiber body and a 3D-printed liquid engine capable of deploying multiple satellites into Earth’s orbit. This seven-storey-tall rocket follows the successful launch of the Vikram-S rocket in November of the preceding year.

Hyderabad’s MAX-Q Campus: A Hub for Innovation

Skyroot’s new headquarters in Hyderabad is a sprawling facility that spans an impressive 60,000 square feet. It is proudly touted as India’s largest private rocket development facility, consolidating design, manufacturing, and testing capabilities for space launch vehicles. This location serves as the nucleus for the company’s 300-member workforce.

Pawan Chandana, the co-founder and CEO of Skyroot Aerospace, underscored the symbolism of the MAX-Q headquarters, stating, “Every rocket, during its travel to space, has to push through a point of maximum stress called ‘Max-Q.’ Our MAX-Q headquarters serves as a powerful symbol of our unwavering commitment to pushing boundaries and accomplishing the extraordinary, all in pursuit of our mission to Open Space For All.”

A Testament to India’s Spacetech Potential

Minister Jitendra Singh commended Skyroot Aerospace as an exemplar of India’s exceptional talent and scientific prowess. He emphasized the transformative impact of Prime Minister Narendra Modi’s policies, which have opened the doors of India’s space sector to public-private partnerships (PPP). Singh remarked that this shift has led to a flourishing startup ecosystem in the country, with the number of space-related startups growing from single digits to an impressive 150 today.

He also emphasized that Skyroot’s success paves the way for the youth of India to establish new companies in emerging sectors such as spacetech. The Minister’s words shed light on the changing landscape of India’s space industry, catalyzed by innovation and collaboration between public and private entities.

A Trailblazing Startup in Spacetech

Founded in 2018 by Pawan Chandana and Naga Bharath Daka, Skyroot Aerospace specializes in the development of space launch vehicles. The company achieved a historic milestone in November 2022 when it became the first Indian private company to launch a rocket into space. Their groundbreaking work has been supported by significant investments, including a Series B funding round that raised $51 million (over INR 400 crore) in September 2022. Notable backers include Singapore’s sovereign wealth fund, WorldQuant Ventures, Graph Ventures, and Meraki Labs.

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Challenges and Opportunities in the Indian Spacetech Industry

The growth of Skyroot Aerospace is emblematic of the burgeoning Indian spacetech industry. India has witnessed the emergence of over 150 spacetech startups, securing more than $285 million in funding between 2014 and 2023. The industry’s rapid expansion is indicative of the immense potential and opportunities within India’s space sector, with companies like Skyroot leading the way in innovation and development.

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