Hyderabad-based Skyroot Aerospace has become India’s first spacetech unicorn after raising nearly $60 million in a funding round that valued the startup at $1.1 billion. The round was co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC, with participation from investors including BlackRock, Playbook Partners, Arkam Ventures and the Shanghvi Family Office. It becomes the fourth Indian startup to enter the unicorn club in 2026, following fintech firms KreditBee and Juspay, and AI startup Neysa.

“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector,” Chandana said.

The fresh funding would be used to scale manufacturing, increase the frequency of Vikram-1 launches and accelerate development of Vikram-2, a heavier launch vehicle powered by a cryogenic stage, the startup said. Vikram-1 is designed to carry satellites weighing up to 350kg into low Earth orbit. The rocket uses an all-carbon composite structure and propulsion systems developed in-house, including 3D-printed engines. Skyroots develops its rocket structures and propulsion systems at its Max-Q and Infinity campuses in Hyderabad, in the southern Indian state of Telangana. As part of the investment, Silicon Valley investor Ram Shriram, an early backer of Google and board member of Alphabet, will join the startup’s Board.

About Skyroot

Skyroot has been Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka. Skyroot is developing the Vikram series of launch vehicles aimed at providing dedicated satellite launch services for global customers. The spacetech startup made headlines in 2022 when it launched Vikram-S, the first privately built Indian rocket to reach space. It is now preparing for the maiden orbital mission of Vikram-1, which would mark India’s first private orbital rocket launch.