Skyroot Aerospace Becomes India’s First Space-Tech Unicorn

A $60 million investment round has propelled Skyroot Aerospace to a $1.1 billion pre-money valuation, making it India’s first space technology unicorn. The Hyderabad-based startup is now preparing for the maiden orbital launch of its Vikram-1 rocket in the coming weeks.

According to the company, the funding consisted of roughly $50 million in primary equity co-led by Sherpalo Ventures and GIC, alongside about $10 million in structured debt managed by funds affiliated with BlackRock. The round also saw participation from Playbook Partners, Arkam Ventures, and the founders of Greenko Group. Ram Shriram, founder of Sherpalo Ventures and an Alphabet board member, will join Skyroot’s board.

Vikram-1 orbital launch attempt

Skyroot is targeting a June launch for Vikram-1, which would be the first orbital launch attempt by an Indian private company. The rocket was transported to India’s spaceport on the southern island of Sriharikota in April, following the completion of flight qualification tests. Integration and launch campaign activities have now begun.

Founded in 2018 by former Indian Space Research Organization (ISRO) engineers Pawan Kumar Chandana and Naga Bharath Daka, Skyroot builds small satellite launch rockets comparable to those from U.S. firms like Rocket Lab and Firefly Aerospace. Vikram-1 is designed to carry payloads of up to 350 kilograms (about 772 pounds) into low Earth orbit.

Valuation surge and investor confidence

The latest valuation more than doubles from the $500 million pre-money valuation Skyroot secured during its previous funding round in 2023. This growth reflects increasing global investor interest in India’s emerging private space sector.

Skyroot declined to disclose revenue figures or customer backlog details. However, the company stated that demand for dedicated launches for small satellite operators is strong, with roughly one-third of expected demand coming from India and the remainder from international customers.

The startup first drew attention in November 2022 after launching Vikram-S, a suborbital mission that marked India’s first privately developed rocket launch.

Future plans and market context

Skyroot said the new capital will be used to scale manufacturing, increase the launch cadence of Vikram-1 missions, and support development of Vikram-2, a heavier-lift launch vehicle expected to debut in 2027. Vikram-2 is being designed as a one-ton-class launch vehicle powered by a cryogenic stage.

India’s space economy is currently estimated at $8.4 billion and projected to grow to $44 billion by 2033, according to government figures. The country had nearly 400 space-tech startups as of early 2026. Reforms introduced since 2020 have allowed private firms to access ISRO facilities and participate in end-to-end space activities, spurring the emergence of startups across launch systems, satellites, and propulsion technologies. The upcoming Vikram-1 mission comes as India seeks to build additional commercial launch capacity alongside ISRO, which has faced setbacks including two consecutive launch failures.