24 - 05 - 2026

Skyroot Aerospace becomes India’s first space-tech unicorn after USD 60 mn funding

In a defining moment for India’s booming private space sector, Hyderabad-based Skyroot Aerospace has become the country’s first space-tech unicorn after raising nearly USD 60 million in fresh funding, underlining rising global confidence in India’s ambitions in the commercial space economy.

The latest funding round has pushed Skyroot’s valuation beyond the coveted USD 1 billion mark, placing the startup among an elite group of Indian deep-tech firms and signalling a transformational shift in the country’s space ecosystem from state-led missions to private-sector innovation.

Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot has rapidly emerged as the face of India’s new-age space revolution. The company had earlier created history in November 2022 with the successful launch of Vikram-S, India’s first privately built rocket to reach space.

The unicorn milestone comes at a crucial time as the company prepares for the launch of Vikram-1, touted as India’s first privately developed orbital launch vehicle capable of placing satellites into orbit. Industry experts view the development as a watershed moment for India’s commercial space ambitions and a sign that Indian startups are increasingly being seen as credible global players in the rapidly expanding space economy.

The funding round was co-led by Sherpalo Ventures and GIC, with participation from several marquee global investors, including funds managed by BlackRock, Playbook Partners and the Shanghvi Family Office.

Analysts say Skyroot’s rise reflects the success of India’s space sector reforms initiated in recent years, including the opening up of the sector to private participation and the creation of IN-SPACe as a regulatory and facilitation body.

With the fresh capital infusion, the company plans to expand manufacturing capabilities, accelerate launch vehicle development and increase launch frequency as it eyes a larger share in the fast-growing global satellite launch market.

Skyroot’s emergence as a unicorn is also being viewed as a landmark moment for India’s deep-tech startup ecosystem, demonstrating that Indian companies can build globally competitive capabilities in cutting-edge sectors once dominated by governments and aerospace giants.