Hyderabad-based Skyroot Aerospace has become India’s first spacetech unicorn after raising $60 million (around Rs 570 crore) in a fresh funding round co-led by Sherpalo Ventures and Singapore sovereign wealth fund GIC. The latest investment has pushed the company’s valuation beyond $1.1 billion, marking a major milestone for India’s rapidly growing private space sector.

Key Highlights

• Skyroot Aerospace became India’s first spacetech unicorn after raising $60 million funding at $1.1 billion valuation.
• Fresh funding will accelerate Vikram-1 launches and development of Skyroot’s next-generation Vikram-2 rocket. 

The funding round also saw participation from BlackRock, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and existing investors, including the founders of Greenko Group. As part of the transaction, veteran Silicon Valley investor and Google’s early backer Ram Shriram will join Skyroot Aerospace’s board.

Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is building the Vikram series of launch vehicles designed for on-demand and cost-effective satellite launches for the global commercial space market.

Funding to Accelerate Vikram Rocket Programme

The fresh capital will primarily be deployed to scale manufacturing capabilities, increase the launch frequency of Vikram-1, and accelerate the development of Vikram-2, a heavier launch vehicle powered by an advanced cryogenic engine stage.

Skyroot’s Vikram-I rocket is expected to become India’s first privately developed orbital launch vehicle. The company had already created history in 2022 with the successful launch of Vikram-S, making it the first Indian private company to launch a rocket into space.

According to the company, Vikram-I is designed for rapid deployment of small satellites with flexible launch configurations, targeting the growing global satellite launch market.

India’s Private Space Sector Gains Momentum

The unicorn milestone reflects rising investor confidence in India’s private space ecosystem following policy reforms and increased participation from startups in launch systems, satellites, and space infrastructure.

Ram Shriram, founder of Sherpalo Ventures said, "The investment reflects strong confidence in India’s private space opportunity and Skyroot’s long-term technological capabilities."

Skyroot Aerospace stated that the latest funding will help strengthen India’s indigenous launch ecosystem while enabling faster commercial deployment of satellite missions globally.

Also Read: Juspay Becomes India's First Unicorn of 2026 at $1.2 Billion

Financial and Industry Context

Despite remaining in the pre-revenue stage through FY25, Skyroot continues to invest heavily in research, propulsion systems, launch infrastructure, and manufacturing scale-up. The company’s losses widened during the year as it accelerated product development and launch readiness.

Skyroot now joins India’s growing unicorn ecosystem alongside companies such as Juspay, KreditBee, and Neysa that crossed the billion-dollar valuation mark in 2026.

The funding also intensifies competition in India’s private spacetech industry, where startups including Agnikul Cosmos, Pixxel, and Digantara are expanding rapidly.