India's first spacetech unicorn: Skyroot raises $60M before Vikram-1 launch
India's first spacetech unicorn: Skyroot raises $60M before Vikram-1 launch
Skyroot Aerospace becomes India's first spacetech unicorn after a $60 million funding round led by Sherpalo Ventures and GIC, ahead of the Vikram-1 maiden flight.
Skyroot Aerospace has reached unicorn status, becoming India's first spacetech unicorn after securing a $60 million funding round co-led by Sherpalo Ventures and Singapore’s GIC. The round also saw participation from BlackRock funds, the founders of the Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office and other investors, boosting Skyroot’s valuation to more than double what it was in 2023. This milestone comes as Skyroot prepares for Vikram-1, India's first privately developed orbital rocket, and its maiden flight, underscoring a rising wave of private space activity in the country.
The fresh capital is expected to accelerate Skyroot’s ongoing work on launch vehicles, propulsion, and related ground systems as it scales toward commercialization. Vikram-1, built by Skyroot, signifies a notable shift in India's space landscape, with private players driving innovation alongside national space agency programs. Investors say the unicorn status reflects confidence in Skyroot's engineering, manufacturing capabilities, and a growing domestic ecosystem that could attract more international funding and collaboration.
Ahead of launch, Skyroot is advancing testing and readiness for Vikram-1's maiden flight, which would mark a first for a privately developed Indian rocket. If successful, the milestone could pave the way for more privately developed orbital missions from Skyroot and other startups, potentially expanding India's role in the global space economy.
