Skyroot Aerospace Raises $60 Million at $1.1 Billion Valuation Ahead of Launch
GIC and BlackRock-managed funds anchor the round as Skyroot targets the first private Indian orbital rocket launch.
- On Wednesday, Bloomberg reported that Hyderabad-based Skyroot Aerospace reached a $1bn-plus valuation, making India's first spacetech unicorn with backing from GIC and BlackRock-managed funds.
- Singapore sovereign vehicles GIC and Temasek have positioned around Indian deeptech for years; their continued participation signals confidence that India's liberalized regulatory environment supports the multi-year capital commitments rocketry requires.
- Skyroot is preparing for the June launch of Vikram-1, designed to deliver up to 480 kg of payload to a 500 km orbit, with the rocket already positioned at the Satish Dhawan Space Centre.
- A successful mission would mark the first orbital launch from Indian soil by a private operator, representing the critical test of the company's commercial-cadence claims.
- Demand for small-satellite launch capacity continues to outpace incumbent providers like SpaceX; while Skyroot has roughly six weeks to deliver, successful execution would make the current valuation appear conservative.
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29 Articles
Hyderabad-based Skyroot Aerospace becomes India’s first space-tech unicorn
New Delhi: Hyderabad-based private space launch startup Skyroot Aerospace on Thursday, May 7, said it has raised $60 million in a fresh funding round led by existing investors Sherpalo Ventures and Singapore’s sovereign wealth fund GIC, becoming India’s first space-tech unicorn. The latest investment round also saw participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office and several o…
Skyroot Aerospace Becomes India’s 1st Space-Tech Unicorn After Raising USD 60 Million From GIC and BlackRock | 🔬 LatestLY
Hyderabad-based Skyroot Aerospace has become India’s first space-tech unicorn after raising USD 60 million from investors including GIC and BlackRock. Now valued at USD 1.1 billion, the company will use the capital to scale manufacturing and launch Vikram-1, its first private orbital rocket, while developing the more powerful Vikram-2 vehicle for future missions. 🔬 Skyroot Aerospace Becomes India’s 1st Space-Tech Unicorn After Raising USD 60 Mi…
Times of India
The Economic TimesIndian space co Skyroot becomes first $1 billion space-tech startup with GIC, Sherpalo, Blackrock backing
Skyroot Aerospace, an Indian space company, has achieved a valuation of one billion dollars. This milestone follows a recent funding round securing sixty million dollars. The company is preparing for its first orbital rocket launch. This achievement signals strong investor confidence in India's growing space sector. Skyroot aims to increase launch frequency and expand manufacturing capabilities.
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