Hyderabad’s Skyroot Likely to Become India’s First Spacetech Unicorn
Founded in 2018 by former Isro engineers Pawan Kumar Chandana and Naga Bharath Daka, the company provides on-demand satellite launch services and focuses on low-cost launch vehicles.
Hyderabad: Hyderabad-based space-tech start-up Skyroot Aerospace could soon become India’s first space-tech unicorn, as it plans to raise about $200 million (around ₹1,800 crore) in its fresh round of funding.
The company was valued at $519 million in its 2023 funding round, up from $163 million a year earlier. In 2023, Singapore-based investors Temasek and GIC invested $27.5 million in the company.
According to reports, Skyroot has appointed Kotak Mahindra Capital to advise on the sale of a minority stake. The company is expected to issue primary shares to new investors, with no dilution for existing shareholders.
Founded in 2018 by former Isro engineers Pawan Kumar Chandana and Naga Bharath Daka, the company provides on-demand satellite launch services and focuses on low-cost launch vehicles.
In 2022, Skyroot became the first Indian private firm to launch a rocket into space with the Vikram-S sub-orbital mission. It is preparing for the first orbital launch of its Vikram-I rocket in 2026. The Vikram series is designed for small satellite launches and incorporates 3D-printed engines and carbon-fibre structures.
The company operates the Infinity Campus, described as India’s first private integrated rocket development facility. It plans to scale up launch frequency to one mission per month by 2027, with estimated costs of $4-6 million per launch.
