Skyroot Aerospace Becomes India’s 1st Space-Tech Unicorn After Raising USD 60 Million From GIC and BlackRock
Hyderabad-based Skyroot Aerospace has become India’s first space-tech unicorn after raising USD 60 million from investors including GIC and BlackRock. Now valued at USD 1.1 billion, the company will use the capital to scale manufacturing and launch Vikram-1, its first private orbital rocket, while developing the more powerful Vikram-2 vehicle for future missions.
Hyderabad-based Skyroot Aerospace has achieved unicorn status after securing USD 60 million (approximately INR 570 crore) in a fresh funding round. The investment was co-led by Singapore’s sovereign wealth fund GIC and Ram Shriram’s Sherpalo Ventures, with participation from BlackRock and the Greenko Group founders. This latest capital infusion values the private space launch company at USD 1.1 billion, making it the first Indian startup in the space-tech sector to surpass the billion-dollar valuation mark.
Skyroot Aerospace Funding and Valuation
The funding round marks a significant jump in the company’s market positioning, doubling its 2023 valuation of USD 519 million. Existing backers, including Arkam Ventures and the Greenko Group, were joined by new investors such as the Shanghvi Family Office and Playbook Partners. With this latest injection, Skyroot’s total capital raised to date has surpassed USD 160 million (Rs 1,500 crore), cementing its place as one of the most well-funded private space entities in the region. NASA Scientists' Near-Death Experience: Dr Ingrid Honkala Shares What Lies Beyond.
Vikram-1 Rocket Launch and Expansion Plans
A primary focus for the company is the upcoming launch of Vikram-1, which is set to become India’s first private orbital-class rocket. Skyroot CEO Pawan Kumar Chandana stated that the investment reflects global confidence in the company's technology. Following a successful sub-orbital mission in 2023, the team is now preparing for a full orbital launch in the coming weeks. The new funds will be used to establish a high cadence for Vikram-1 missions and to scale up manufacturing facilities.
Development of Vikram-2 Launch Vehicle
Beyond its immediate launch goals, Skyroot is channelling resources into the development of Vikram-2. This next-generation vehicle is designed as a one-tonne class rocket powered by advanced cryogenic stages. By expanding its launch vehicle stable, the company aims to serve a wider range of global satellite customers and improve the cost-to-performance ratio in the competitive orbital-launch industry. Can Elon Musk Be Fired From SpaceX? Billionaire Has Sole Power To Remove Himself as CEO or Chairman, Reveals IPO Filing.
India Space Sector Growth and Investment
The rise of Skyroot as a unicorn underscores the rapid evolution of India’s private space sector. Ram Shriram of Sherpalo Ventures noted that access to space remains a critical global challenge and praised the team for building foundational infrastructure. As the industry moves away from government-led monopolies, Skyroot’s achievement is seen as a pivotal moment for
(The above story first appeared on LatestLY on May 07, 2026 05:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
