Hyderabad, Thursday, May 7, 2026: India’s private space race has entered a new phase as Hyderabad-based Skyroot Aerospace secured $60 million (around Rs 570 crore) in fresh funding, propelling the company into the unicorn club with a valuation of $1.1 billion.
The investment round was co-led by Sherpalo, founded by veteran investor Ram Shriram, and Singapore’s sovereign wealth fund GIC. Existing investors including BlackRock, the founders of Greenko Group, and Arkam Ventures also participated, while Playbook Partners and Shanghvi Family Office joined the cap table for the first time.
The latest valuation marks a sharp rise for the Hyderabad based spacetech firm, whose worth stood at nearly $519 million in 2023. The company has now emerged as India’s first space-tech unicorn and one of the country’s most heavily funded private aerospace ventures.
Vikram-1 Mission Boosts Investor Confidence in Skyroot Aerospace
The spacetech firm’s rapid growth comes as it gears up for the launch of Vikram-1, described as India’s first privately developed orbital rocket. The company had earlier achieved a milestone with its Vikram-S mission and is now preparing for another launch in the coming weeks.
Commenting on the development, co-founder and CEO Pawan Kumar Chandana said the upcoming Vikram-1 mission represents a defining moment not only for the company but also for India’s expanding role in the global commercial space sector. He added that the latest investment reflects strong confidence from leading international investors in Skyroot’s long-term vision.
Sherpalo founder Ram Shriram said he had backed the startup from its early stages and continues to believe in the team’s potential as it moves closer to operational orbital launches. He noted that affordable and reliable access to space remains one of the world’s biggest technological challenges, adding that spacetech firm’s is building launch systems with a strong cost-to-performance advantage.
The newly raised funds will be used to increase the frequency of Vikram-1 launches, strengthen manufacturing capabilities, and accelerate development of Vikram-2, a next-generation launch vehicle designed to carry one-tonne payloads using an advanced cryogenic propulsion stage.
Following the latest round, Skyroot Aerospace’s total funding has crossed $160 million, or nearly Rs 1,500 crore, underscoring rising investor confidence in India’s fast-growing private space ecosystem.
