Indian spacetech startup Skyroot Aerospace is seeking fresh investment of around $200 million (₹1,900 crore) at a valuation of $2 billion (₹19,000 crore), just three months after raising $60 million at unicorn status.
The company has reportedly invited bids from investors for the new funding round, allowing interested investors to submit proposals. After reviewing the bids, Skyroot will decide which investors it wants to onboard.
The proposed valuation represents a significant jump from the $1.1 billion valuation recorded during its previous funding round earlier this year. If successful, the fundraising will support Skyroot’s expansion plans and strengthen confidence in India’s growing private space sector.
The company aims to complete the funding round within the next two months and is looking to bring more domestic investors into its shareholder base. Existing investors, including GIC and Temasek, along with Indian investment firm 360 One Asset, are reportedly considering participation in the round.
The fundraising process is being managed by Kotak, according to reports. If completed, it would become Skyroot’s second funding round in less than six months.
The development comes after Skyroot achieved a major milestone by becoming the first private Indian company to successfully place a rocket into Earth’s orbit. Its Vikram-1 launch vehicle delivered customer payloads from Indian and international clients into a 450-km Low Earth Orbit (LEO).
Standing nearly seven storeys tall, Vikram-1 is designed to carry payloads of up to 480 kg to Low Earth Orbit and 290 kg to Sun Synchronous Orbit. The launch vehicle uses advanced technologies including solid propulsion systems, liquid propulsion for orbital adjustments, 3D-printed engines and automated stage separation systems.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot develops modular launch vehicles for the global small satellite market. The company’s 2 lakh sq ft Infinity Campus in Hyderabad is designed to manufacture up to one orbital rocket every month.
Skyroot has raised more than $150 million in funding so far, with investors including Sherpalo Ventures, Temasek and BlackRock.
Following the success of Vikram-1, the company plans additional launches this year and is developing upgraded vehicles, including Vikram-1U with strap-on boosters and Vikram-2, a one-tonne-class launch vehicle featuring a cryogenic upper stage.
The company’s growth comes as India’s private spacetech sector expands rapidly, with the country’s space economy projected to become a $77 billion market by 2030.
