Ram Shriram, the Silicon Valley investor best known for writing Google’s first cheque during the company’s early days, is now playing a key role in India’s fast-growing private space sector. His investment firm, Sherpalo Ventures, recently co-led a $60 million funding round in Hyderabad-based Skyroot Aerospace, helping the company become India’s first space-tech unicorn.
The latest funding round has pushed Skyroot Aerospace’s valuation to around $1.1 billion, marking a historic milestone for India’s private space industry. Investors in the round included Sherpalo Ventures, Singapore’s sovereign wealth fund GIC, BlackRock-backed funds, and several Indian investors.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace gained national attention after successfully launching Vikram-S in 2022, India’s first privately developed rocket to reach space. The company is now preparing for the launch of Vikram-1, India’s first private orbital rocket.
The fresh capital will be used to scale manufacturing, increase launch frequency, and accelerate development of the larger Vikram-2 rocket. Ram Shriram is also set to join Skyroot’s board, further strengthening the startup’s global investor network and strategic direction.
Industry experts view Skyroot’s unicorn milestone as a major signal of global confidence in India’s deep-tech and space innovation ecosystem. The development also reflects the rapid transformation of India’s space sector since private participation was opened up in 2020.
