Hyderabad-based Skyroot Aerospace has achieved a major milestone by becoming India’s first space-tech unicorn. This is being seen as a significant step for the country’s private space sector. The company raised $60 million (about Rs 568 crore) in its latest funding round. With this, its valuation has reached $1 billion, making it one of India’s most valuable deep-tech companies.
The announcement comes as the company prepares for the launch of Vikram-1, India’s first privately built orbital rocket, which is expected to significantly boost the country’s commercial space launch capabilities.
This new investment round was led by Sherpalo Ventures, Singapore’s sovereign investment fund GIC, and other major global and institutional investors. It reflects growing international confidence in India’s private space sector. This funding brings Skyroot’s valuation to approximately $1.1 billion, nearly double its previous valuation.
According to company officials, the new capital will be used to accelerate rocket development, expand manufacturing capacity, and scale up orbital launch operations. A significant portion of the investment will also support ongoing work on the Vikram series of launch vehicles, designed for rapid and cost-efficient satellite deployment.
Skyroot Aerospace, founded in 2018 by former ISRO scientists, has steadily emerged as a key player in India’s growing private space ecosystem. The company has already made history by successfully testing Vikram-S, India’s first privately built suborbital rocket, in 2022, demonstrating its technical capability in launch vehicle development.
Officials associated with the company said the unicorn milestone reflects both strong investor interest and India’s expanding commercial space ambitions, especially as global demand for satellite launches continues to rise.
Industry observers note that Skyroot’s achievement signals a broader shift in India’s space sector, where private firms are increasingly contributing alongside government-led organisations such as ISRO. The development also comes amid policy reforms that have opened up space research and launch infrastructure to private participation.
The company is now preparing for its upcoming Vikram-1 orbital mission. If successful, it will mark India’s entry into the private orbital launch market and help strengthen its position in the global space economy.
Skyroot becoming a unicorn is seen as an important moment for India’s startup ecosystem, especially in deep-tech and aerospace innovation, where private companies have traditionally had limited opportunities due to high costs and challenges.
With strong investor support and several planned launches, Skyroot Aerospace is expected to play a major role in India’s future commercial space activities.
