Skyroot Aerospace Becomes India’s First Space-Tech Unicorn After $60 Million Funding Round

Hyderabad-based Skyroot Aerospace has become India’s first space-tech unicorn, raised $60 million from Sherpalo, GIC, BlackRock & others.

By News4Bharat | 2026-05-07T14:35:52.481320+05:30

Skyroot Aerospace Becomes India’s First Space-Tech Unicorn After $60 Million Funding Round

India’s private space sector has reached a major milestone. Hyderabad-based Skyroot Aerospace has become the country’s first space-tech unicorn after raising $60 million in a fresh funding round.

The round was co-led by Ram Shriram’s Sherpalo Ventures and Singapore’s sovereign wealth fund GIC. Funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office and other investors also participated in the round. With this, Skyroot’s valuation has touched .1 billion, a sharp rise from around $519 million in 2023. Reuters reported that the company’s total funding has now reached about 60 million.

68242b11efeca2c8629f1820_Vikram 2-p-2600 Source: Skyroot Aerospace

The development makes Skyroot the first Indian startup in the space-tech sector to cross the billion-dollar valuation mark. It is also being seen as a strong vote of confidence in India’s growing private space economy, which has opened up rapidly after policy reforms and greater access to ISRO facilities.

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Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot has been working on launch vehicles for small satellites. The company came into national focus in November 2022 when it successfully launched Vikram-S, India’s first privately built launch vehicle, from the Satish Dhawan Space Centre in Sriharikota. ISRO also records the Vikram-S mission as the first launch vehicle built by a private company in India.

Skyroot is now preparing for the launch of Vikram-1, India’s first private orbital rocket. According to the company’s website, Vikram-1 is designed for small satellite launches and can carry up to 350 kg to Low Earth Orbit and up to 260 kg to Sun-synchronous Orbit. The company lists Vikram-1’s launch timeline as 2026.

The private space ecosystem is also growing fast. In February 2026, the government informed Parliament that India had more than 400 space startups, while investment in space startups had crossed $500 million.

For Skyroot, the unicorn tag is more than a funding milestone. The real test will come with Vikram-1. A successful orbital launch would put the company in a stronger position in the small satellite launch market and give India’s private space industry a powerful global signal.

For now, Skyroot’s rise shows how India’s space story is moving beyond government missions alone. A new generation of Indian companies is entering the launchpad, and Skyroot has taken the first big leap.