Hyderabad: Hyderabad-based space technology company Skyroot Aerospace has raised $60 million in a new funding round. The investment has valued the company at $1.1 billion, making it India’s first space-tech unicorn. The funding comes from domestic and global investors. This further strengthens the company’s position in India’s private space sector and provides a major boost to the country’s commercial space industry.
The funding round was jointly led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC. It also saw participation from several other investors, including BlackRock, Arkam Ventures, Playbook Partners, and the Sanghvi Family Office. The company said the investment reflects the growing interest among global investors in India’s private space technology and future commercial space launch opportunities. As part of the transaction, Ram Shriram, founder of Sherpalo Ventures and early investor in Google, will join Skyroot Aerospace’s board of directors, providing strategic guidance as the company expands its operations. The total funding raised by Skyroot now stands at over $160 million, according to details shared by the company.
Skyroot Aerospace’s valuation has increased significantly from around $519 million in 2023 to $1.1 billion in 2026, making it the first Indian space-tech startup to enter the unicorn category. The company’s growth reflects increasing investor confidence in India’s private aerospace sector, which has been expanding following policy reforms that allow greater participation of private companies in space missions and satellite launch services.
Founded in Hyderabad, Skyroot Aerospace is focused on developing cost-effective launch vehicles for small satellites. The company is currently working on its flagship orbital rocket, Vikram-1, which is expected to be India’s first privately developed orbital launch vehicle. The startup has already demonstrated its technical capabilities with the successful launch of Vikram-S in 2022, which became India’s first privately built rocket to reach space.
According to the company, the newly raised capital will be used to expand manufacturing facilities, increase testing capabilities, and accelerate the development and launch schedule of Vikram-1. The funds will also support work on Vikram-2, a next-generation launch vehicle designed to carry heavier payloads into orbit.
Experts believe that Skyroot’s unicorn status marks a major milestone for India’s space economy. It demonstrates the rapid growth of private companies in this sector, which previously was largely dominated by government agencies. According to analysts, the growth of such companies could help India strengthen its position in the global small satellite launch market, which is expected to grow rapidly in the future.
