Skyroot Aerospace Becomes India’s First Space-Tech Unicorn with $1.1B Valuation
HYDERABAD — Skyroot Aerospace, the pioneering startup that launched India’s first private rocket, has officially entered the unicorn club. The company announced on Thursday, May 7, 2026, that it has raised $60 million (approximately ₹570 crore) in a fresh funding round, propelling its pre-money valuation to $1.1 billion.
The milestone makes Skyroot the first space-technology startup in India to cross the billion-dollar threshold, marking a significant shift for the nation’s private aerospace sector.
The Funding Details
The funding round was co-led by Sherpalo Ventures and GIC, Singapore’s sovereign wealth fund. The capital infusion follows a period of rapid growth, with the company’s valuation more than doubling since its $550 million mark in late 2023.
- Key Participants: Existing investors, including the founders of Greenko Group and Arkam Ventures, participated alongside new backers such as BlackRock, Playbook Partners, and the Shanghvi Family Office.
- Total Capital: This round brings Skyroot’s total funding to over $160 million since it was founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka.
Silicon Valley Expertise: Ram Shriram Joins Board
A major highlight of the announcement is the addition of Ram Shriram to Skyroot’s board of directors. Shriram, the founder of Sherpalo Ventures and a long-standing board member of Alphabet Inc. (Google), was one of the earliest investors in Google.
“Access to space is one of the key challenges of our time,” Shriram said in a statement. “Skyroot has demonstrated the capability to build reliable, cost-effective launch vehicles that can compete on a global scale.”
Mission Roadmap: Scaling for Orbit
The fresh capital is earmarked for three primary strategic goals as the company transitions from demonstration flights to commercial operations:
- Vikram-1 Launch: Preparing for the maiden orbital flight of Vikram-1, a multi-stage launch vehicle designed to carry 350 kg payloads to Low Earth Orbit (LEO).
- Vikram-2 Development: Accelerating work on a larger, one-tonne class vehicle that will feature an advanced cryogenic upper stage.
- Manufacturing & Infrastructure: Scaling up production at its “Infinity Campus” in Hyderabad to eventually achieve a cadence of one launch per month.
A Milestone Year for Indian Startups
Skyroot is the fourth Indian startup to attain unicorn status in 2026, following the lead of firms like KreditBee and Juspay.
By leveraging 3D-printed engines and carbon-composite structures, Skyroot aims to offer “on-demand” satellite launches, positioning itself as a key player in the global small-satellite market which is currently seeing massive demand from the US, Europe, and Southeast Asia.