Skyroot Aerospace Becomes India's First Space-Tech Unicorn With $60 Million Round Ahead of Vikram-1 Maiden Orbital Launch
Hyderabad-based Skyroot raised $60 million co-led by GIC and Sherpalo Ventures at a $1.1 billion valuation, with Vikram-1's first orbital flight targeted for June 2026.
Overview
Skyroot Aerospace, the Hyderabad-based launch startup founded by two former ISRO engineers, has raised $60 million in a round that values the company at $1.1 billion, making it India’s first space-tech unicorn, according to TechCrunch. The capital arrives weeks before the planned maiden orbital flight of Vikram-1, which Skyroot has positioned as India’s first private orbital rocket.
What We Know
The round combines $50 million in primary equity co-led by Sherpalo Ventures and GIC, Singapore’s sovereign wealth fund, plus $10 million in structured debt from BlackRock-affiliated funds, according to TechCrunch. Additional investors named by The Tribune include Playbook Partners, Arkam Ventures and the Shanghvi Family Office, alongside the founders of Greenko Group cited by TechCrunch.
The $1.1 billion valuation more than doubles the $500 million pre-money mark Skyroot secured during its 2023 round, as reported by TechCrunch. As part of the deal, Ram Shriram — founder of Sherpalo Ventures and an Alphabet board member — will join Skyroot’s board, according to The Tribune.
Skyroot was founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, both former ISRO engineers, according to TechCrunch. The company operates from its Max-Q and Infinity campuses in Hyderabad, as reported by The Tribune.
The Vikram-1 Launch Vehicle
Vikram-1 is a small satellite launch vehicle designed to carry up to 350 kilograms to low Earth orbit, according to TechCrunch. The Tribune describes the rocket as featuring carbon composite construction and 3D-printed propulsion systems. The vehicle was flagged off to the Sriharikota spaceport in April, with the maiden orbital launch targeted for June 2026, TechCrunch reports.
In comments to The Tribune, co-founder and chief executive Pawan Kumar Chandana said: “We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector.”
The new capital will fund production expansion, an increased Vikram-1 launch cadence and accelerated development of Vikram-2, according to The Tribune. Vikram-2 is planned as a one-ton-class vehicle with a cryogenic upper stage, with its debut targeted for 2027, TechCrunch reports.
What We Don’t Know
Neither source confirms a specific launch date within June 2026 for Vikram-1, leaving roughly a month-long window. Skyroot has not disclosed firm pricing for dedicated small-satellite launches, nor a customer manifest. The technical readiness of the cryogenic upper stage planned for Vikram-2 remains an internal milestone with no third-party validation cited in either source, and the company’s revenue, employee count and full post-round cap-table were not disclosed in the reporting.
Context
The round closes the gap between India’s nascent private launch sector and the broader small-satellite launch services market. The combined signal from a $1.1 billion valuation, BlackRock-affiliated debt financing and the addition of an Alphabet board member to Skyroot’s board points to a private launch-services market that institutional capital is now willing to underwrite alongside earlier-stage venture equity.