Skyroot Aerospace, one of India’s most promising space startups, has successfully closed a $60 million funding round, pushing its valuation to $1.1 billion. With this milestone, the Hyderabad-based company has officially entered unicorn territory, making it one of the rare Indian deep-tech startups to achieve this status. The fresh capital arrives at a particularly exciting moment, as the company’s flagship rocket is just weeks away from its first orbital mission.
At the heart of this announcement is Vikram 1, India’s first privately built orbital rocket. Unlike suborbital test vehicles that go up and come back down, an orbital rocket is designed to carry payloads all the way into space and place them into orbit around Earth. This is a significantly more complex and powerful achievement, and Skyroot is on the verge of pulling it off.
The company had already demonstrated its capabilities back in 2022 when Vikram S became the first privately developed rocket to launch from Indian soil. That mission proved the core technology worked. Now, Vikram 1 is the next step, taking that proven technology to full orbital capability.
The $60 million raised will be put to work across three main areas. First, Skyroot plans to scale up the launch frequency of Vikram 1, meaning they aim to conduct more launches per year to meet growing demand from satellite operators. Second, the company will expand and upgrade its manufacturing operations to support higher production. Third, and perhaps most ambitiously, the funds will support the development of Vikram 2, a next generation rocket with a one tonne payload capacity and an advanced cryogenic upper stage, which is a more powerful and efficient propulsion system used in the upper atmosphere.
Backed by Major Investors
The funding round drew support from a strong and diverse group of backers. Investors who participated include Sherpalo Ventures LLC, GIC, funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and several others. The participation of globally recognized names like BlackRock and GIC signals strong international confidence in India’s growing private space sector.
Skyroot has always been clear about who it is building for. The company’s core belief is that satellite operators around the world need reliable, affordable, and dedicated access to space. Many smaller satellite companies struggle to find launch slots on larger rockets and often have to share rides, which limits flexibility. Skyroot’s rockets are designed to offer dedicated launch services, giving these operators more control over when and how their satellites reach orbit.
What This Means for India’s Space Sector
Skyroot’s unicorn status is more than just a financial milestone. It signals that India’s private space industry is maturing rapidly. With the Indian government having opened up the space sector to private players in recent years, companies like Skyroot are now at the forefront of a new era in the country’s space ambitions. Reaching a $1.1 billion valuation puts Skyroot in elite company globally and validates years of engineering work and mission building done by its team.
As Vikram 1 moves closer to its maiden flight, all eyes will be on Skyroot to see if it can deliver on its promise and open up a new chapter for commercial space launch from India.
