Skyroot Aerospace becomes India’s first space-tech unicorn after $60 million raise
Hyderabad: Hyderabad-based Skyroot Aerospace on Thursday (May 7, 2026) announced that it had become India’s first space-tech unicorn following its latest funding round of nearly USD 60 million, taking its valuation to $1.1 billion.
The funding was led by Sherpalo Ventures, with participation from Singapore’s sovereign wealth fund GIC, the founders of Greenko Group, and Arkam Ventures, among others.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot made headlines in 2022 with the launch of Vikram-S, India’s first privately developed rocket.mThe company said the fresh capital will be used to scale production of its Vikram series of launch vehicles, expand infrastructure, and accelerate upcoming orbital missions.
“This milestone validates the potential of India’s private space sector,” said Pawan Kumar Chandana, co-founder and CEO. “We’re now focused on delivering reliable, on-demand launch services to global customers.”
With the raise, Skyroot joins the unicorn club as the first Indian space-tech startup to cross the $1 billion valuation mark. The Indian National Space Promotion and Authorization Center (IN-SPACe) called the development a “major boost” for the country’s commercial space ecosystem. Skyroot’s next mission, Vikram-1, is slated for later this year.
