Skyroot Aerospace Reaches Unicorn Orbit as Vikram-1 Launch Countdown Begins

• Skyroot Aerospace raises nearly $60 million in a fresh funding round led by Sherpalo Ventures and GIC

• The company becomes India’s first space-tech unicorn with a valuation of $1.1 billion

• Funds will support Vikram-1 launch, manufacturing expansion and next-gen rocket development

Hyderabad-based launch vehicle start-up Skyroot Aerospace has raised nearly $60 million in a fresh funding round, becoming India’s first space-tech unicorn with a pre-money valuation of $1.1 billion on Thursday, May 7.

The round was co-led by Sherpalo Ventures and GIC, along with participation from existing investors including Greenko Group founders and Arkam Ventures.

New investors in the round include funds managed by BlackRock, Playbook Partners, and the Shanghvi Family Office, among others. With this latest infusion, Skyroot’s total funding has reached $160 million.

Vikram-1 Launch Nears Milestone

In a post on X, Skyroot Aerospace said the proceeds will be used to scale up launch operations for Vikram-1, India’s first privately developed orbital rocket, which is expected to lift off in the coming weeks. The startup will also expand manufacturing capabilities and accelerate development of Vikram-2, a more advanced 1-tonne class vehicle with a cryogenic upper stage.

The company said its earlier sub-orbital mission Vikram-S, launched in 2022, had already demonstrated its core technology. It added that Vikram-1 represents the next step toward orbital capability and a key milestone in India’s private space journey.

Strong Investor Confidence

The funding also brings Sherpalo Ventures founder Ram Shriram—also a board member of Alphabet Inc—onto Skyroot’s board.

Skyroot co-founder and CEO Pawan Kumar Chandana said in statements cited by multiple reports that, "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. This investment signals confidence from some of the world's most reputed investors in Skyroot,"

Industry reactions were also positive. Lt. Gen. AK Bhatt (retd.), Director General of the Indian Space Association (ISpA), said, "Skyroot Aerospace becoming India’s first space-tech unicorn marks a defining moment for the country’s private space ecosystem".

"This milestone is far more than a financial achievement; it is the symbolic coming-of-age of India’s space startup landscape and a powerful validation of the technological ingenuity, entrepreneurial ambition, and commercial agility that Indian companies now bring to the global space sector.”

Bhatt further said the development sends a strong message to global investors that India has built a credible and innovation-led space ecosystem. According to him, this ecosystem is now capable of delivering “world-class, cost-competitive, reliable and on-demand space solutions.”

He also said the timing is significant as the industry moves closer to the Vikram-1 orbital launch. Bhatt added that the achievement is expected to boost investor confidence further and support India’s broader goal of securing a 10% share of the global space economy by 2033.