Skyroot Aerospace Rockets to Unicorn Status with $60 Million Funding Ahead of Historic Launch

Hyderabad-based Skyroot Aerospace has achieved a $1.1 billion valuation after securing $60 million in fresh capital, marking its entry into the unicorn club just weeks before its maiden orbital rocket launch.

May 7, 2026 | HYDERABAD: India’s private space sector reached a historic milestone today as Skyroot Aerospace announced a successful $60 million funding round, propelling the startup to a $1.1 billion valuation. This capital infusion officially establishes Skyroot as India’s first spacetech unicorn, reflecting surging global investor confidence in the nation’s burgeoning commercial space industry.

The funding round was co-led by Singapore’s sovereign wealth fund GIC and Sherpalo Ventures, the firm headed by early Google investor and Alphabet Inc. board member Ram Shriram. Shriram, who has joined Skyroot’s board, expressed deep conviction in the team’s ability to disrupt the global orbital-launch market with their cost-effective infrastructure. Other prominent participants included funds managed by BlackRock, the Shanghvi Family Office, Playbook Partners, and existing backers like the founders of Greenko Group and Arkam Ventures.

This financial boost comes at a critical juncture as the company prepares for the imminent launch of Vikram-1, which is set to become the first privately developed orbital-class rocket to be flown by an Indian company. The Vikram-1 flight hardware has already been flagged off from Hyderabad to the Satish Dhawan Space Centre in Sriharikota for final preparations.

According to Co-founder and CEO Pawan Kumar Chandana, the new funds will be strategically deployed to accelerate the launch frequency of the Vikram series, scale up domestic manufacturing capabilities, and fast-track the development of Vikram-2 a heavier, one-tonne class launch vehicle featuring advanced cryogenic technology. By doubling its valuation from $550 million in just three years, Skyroot has positioned itself as a frontrunner in the global small-satellite launch market, aiming to provide high-cadence, reliable access to space for international clients.

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