Skyroot Aerospace Secures $60M Growth Funding as India's First Space-Tech Unicorn

Indian private aerospace company Skyroot Aerospace has raised $60 million in a growth funding round, becoming the country’s first space-tech unicorn. The announcement comes as the company prepares for the debut orbital launch of Vikram-I, its on-demand small satellite launch vehicle, later this year. While the specific investors were not disclosed, media reports link the funding to prominent backers such as Ram Shriram’s Sherpalo, GIC, and BlackRock.

Skyroot Aerospace specializes in the development of small satellite launch vehicles, aiming to make space more accessible and customizable for commercial and scientific missions. Its flagship product, Vikram-I, is a flexible, all-carbon composite rocket capable of delivering payloads up to 350 kg to Low Earth Orbit (LEO) and 260 kg to Sun-synchronous Orbit. The company also plans to launch Vikram-II, a cryogenic engine-powered vehicle with greater payload capacity, in 2027.

The $60 million infusion will be directed toward scaling Skyroot’s operations and accelerating the Vikram-I launch timeline. The funding will also support the company’s broader mission to democratize access to space by offering dedicated and rideshare launch options for small satellites globally.

Skyroot’s rise is part of India’s burgeoning private space industry, which gained momentum following policy reforms that opened the sector to private players. The company made headlines in November 2022 with the launch of Vikram-S, India’s first privately developed suborbital rocket, marking a significant milestone for the industry.

As global demand for small satellite launches continues to grow, Skyroot is positioning itself as a key player in the competitive commercial space market, competing with established players like SpaceX’s rideshare program and Rocket Lab. With the Vikram series, Skyroot aims to provide cost-effective, rapid, and flexible launch solutions tailored to the needs of emerging satellite operators.

The company’s ability to attract substantial funding and achieve unicorn status underscores the confidence of investors in its technology and market potential. With its first orbital mission on the horizon, Skyroot Aerospace is poised to solidify its leadership in India’s private space sector while making its mark on the global stage.