India's Skyroot Aerospace becomes first space-tech unicorn with $1.1…

Team S · 2026-05-07T13:44:19.000Z

Hyderabad-based Skyroot Aerospace has become the first space-sector company in India to reach a $1 billion valuation, after securing $60 million in a fresh funding round. The investment was led by GIC, Singapore's sovereign wealth fund, and Silicon Valley-based Sherpalo Ventures, bringing the company's total capital raised to over $160 million. The round also saw participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and Shanghvi Family Office. Ram Shriram — founder of Sherpalo Ventures, a renowned early backer of Google, and an Alphabet board member — will join Skyroot's board as part of the deal. Founded by Pawan Kumar Chandana and Naga Bharath Daka, Skyroot made history in 2022 when it launched Vikram-S, India's first privately built rocket to reach space. The company is now preparing for the maiden flight of Vikram-1, its orbital launch vehicle — designed to carry payloads of up to 350 kg to low Earth orbit — which will mark India's first private attempt at an orbital mission. The new funding will be used to increase the frequency of Vikram-1 launches, expand manufacturing capacity at its Hyderabad campuses, and advance development of Vikram-2. Industry figures described the milestone as a strong signal of credibility for India's broader space sector to global investors.

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India's Skyroot Aerospace becomes first space-tech unicorn with $1.1… | Newnex