Indian space startup Skyroot Aerospace has entered the unicorn club after raising $60 million in fresh funding, taking its valuation to $1.1 billion. The achievement makes Skyroot the country’s first space-tech startup to cross the billion-dollar mark.
The funding comes just ahead of the company’s highly anticipated Vikram-1 mission, which aims to become the first privately built Indian rocket to place satellites into orbit. The launch is expected to be a major milestone for India’s growing private space sector.
Founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, the Hyderabad-based company has rapidly gained attention for developing low-cost launch vehicles for small satellites. Skyroot had earlier created history in 2022 with Vikram-S, the first privately developed Indian rocket to successfully reach space.
The company said the fresh capital will help expand production, strengthen technology development, and support future launch programmes. Skyroot is also looking to scale its satellite launch business as global demand for commercial launches continues to rise.
Industry experts say the latest funding reflects increasing investor confidence in India’s private space ecosystem, especially after government reforms allowed startups greater access to the sector. Investors are now betting on Indian companies developing affordable space technologies for global markets.
The commercial space industry has become one of the fastest-growing technology sectors worldwide, driven by rising satellite demand, communication services, earth observation, and defence applications. Companies like Skyroot are aiming to capture a share of this rapidly expanding market.
The upcoming Vikram-1 launch is being closely watched by the space industry, investors, and policymakers alike. A successful mission could position Skyroot as a serious global competitor in the satellite launch business.
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