Skyroot Aerospace becomes India's first space-tech unicorn

Skyroot Aerospace, a Hyderabad-based private space launch startup, has successfully raised $60 million in a funding round co-led by Sherpalo Ventures and GIC (sovereign wealth fund). This investment has propelled Skyroot Aerospace to a valuation of $1.1 billion, making it India's first space-tech unicorn. The funding round also saw participation from existing investors like BlackRock, Greenko Group, and VSR Ventures Private Limited, as well as new investors such as Playbook Partners and Shanghvi Family Office. The capital will be utilized to increase the launch frequency of Vikram-1, India's first privately developed orbital rocket, expand manufacturing capabilities, and support the development of Vikram-2, a next-generation launch vehicle. Ram Shriram, founder of Sherpalo Ventures and a board member of Alphabet Inc., will join Skyroot Aerospace's board. This milestone is seen as a significant development for India's private space ecosystem, reflecting growing technological and commercial capabilities and increasing global investor confidence in the country's space sector.