Hyderabad-based space-tech startup Skyroot Aerospace is in advanced talks to raise $280–300 million from global investors Fidelity, General Catalyst and Benchmark, according to a Moneycontrol report citing people aware of the developments.
The ongoing negotiations could value Skyroot at around $2.8–3 billion. Fidelity is expected to invest around $170–190 million, while General Catalyst could invest $70–80 million. Benchmark may invest $20–30 million.
If the deal goes through, it would mark Benchmark’s first known direct investment in an Indian company.
The potential fundraise comes after Skyroot’s successful July 18 launch of Vikram-1, described as India’s first privately developed orbital launch vehicle. Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is building launch vehicles for small-satellite missions.
Existing investors, including GIC, BlackRock, Sherpalo Ventures and Arkam Ventures, may also participate in the round.
