Firenib Desk
India’s private space race just got a massive booster shot. Hyderabad-based space startup Skyroot Aerospace has raised $60 million in a fresh funding round led by Silicon Valley heavyweight Ram Shriram through Sherpalo Ventures, pushing the company’s valuation to $1.1 billion and officially making it India’s first space-tech unicorn.
The funding comes at a crucial time as Skyroot gears up for the maiden orbital launch of Vikram-1, India’s first privately built orbital rocket, expected next month pending approvals and final readiness checks.
Founded in 2018 by former ISRO engineers Pawan Chandana and Bharath Daka, Skyroot has rapidly become the poster child of India’s emerging private space ecosystem. The startup had already made headlines in 2022 after successfully launching a sub-orbital rocket, breaking ISRO’s long-standing monopoly in private launches.
This latest round also saw participation from existing backers including GIC, Arkam Ventures and Greenko founders. New investors such as BlackRock, Playbook Partners, and the family office of Dilip Shanghvi also joined the cap table.
Skyroot plans to use the fresh capital to scale Vikram launch operations, expand manufacturing capacity, and accelerate development of Vikram-2 — a more powerful rocket designed for heavier payload missions.
The upcoming Vikram-1 mission will carry a mix of domestic and international payloads, including earth observation satellites and experimental modules into low-earth orbit above 400 km altitude. The mission duration is expected to be around 15 minutes.
Industry experts see this as a defining moment for India’s deep-tech and private space ambitions. With global demand for small satellite launches surging, Skyroot is positioning itself as a cost-efficient launch partner for sectors ranging from agriculture and telecom to defence and climate monitoring.
“India is becoming an important destination in the global space economy,” said Chandana, adding that customer confidence and commercial contracts are expected to rise sharply after successful orbital missions.
For India’s startup ecosystem, this isn’t just another funding round — it’s a signal that deep-tech is finally ready for liftoff.
