Skyroot becomes India’s first spacetech unicorn after $60 Mn funding round
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Startup Spotlight India
- May 10, 2026
Skyroot Aerospace, the Hyderabad-based spacetech startup, has raised $60 million (approximately Rs 570 crore) in a funding round co-led by Sherpalo Ventures and GIC.
The round also attracted 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 this fresh capital infusion, Skyroot’s valuation has crossed $1.1 billion, making it India’s first spacetech unicorn. The startup was previously valued at around $550 million in 2023 after raising $27 million in a pre-Series C funding round.
The newly raised funds will be used to expand manufacturing capabilities, increase the launch frequency of Vikram-1, and speed up the development of Vikram-2, a heavier launch vehicle powered by a cryogenic stage.
As part of the investment, Ram Shriram will join Skyroot’s board.
Founded in 2018 by former Indian Space Research Organisation scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace develops small and medium-lift launch vehicles for the global satellite market.
The company is building its Vikram series of rockets, including Vikram-I and Vikram-II, aimed at offering 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 as it continued investing heavily in research and development.
With the latest funding round, Skyroot has become the fourth startup to enter India’s unicorn club in 2026 after KreditBee last month, Neysa in February, and Juspay, which achieved a $1 billion valuation after a $50 million funding round led by WestBridge Capital in January.
Other well-funded spacetech startups in India include Agnikul, Pixxel, and Digantara.
