Skyroot Aerospace Becomes India's First Space-Tech Unicorn
Hyderabad-based Skyroot Aerospace has become India's first space-tech unicorn, crossing a valuation of about 1.1 billion US dollars after raising 60 million dollars. It was founded in 2018 by former ISRO engineers.
Skyroot Aerospace, a private space company based in Hyderabad, has become India's first space-technology unicorn. The company crossed a valuation of about 1.1 billion US dollars after raising 60 million US dollars in a fresh round of funding. A unicorn is a privately held start-up that is valued at one billion dollars or more.
The funding round was co-led by Sherpalo Ventures and GIC, the sovereign wealth fund of Singapore. Skyroot was founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, both former engineers of the Indian Space Research Organisation (ISRO). The company builds orbital launch vehicles named Vikram-1 and Vikram-2, designed to carry satellites into space.
Skyroot first drew national attention in 2022, when it launched the Vikram-S suborbital rocket. That launch made it the first private Indian firm to send a rocket into space. The new unicorn tag is seen as an important milestone for India's growing private space sector, which the government opened to private players in recent years.
For exam aspirants, this development connects to the rise of private participation in India's space programme, the role of ISRO, and the start-up ecosystem in the country's economy.
Key Points to Remember
- Skyroot Aerospace is India's first space-tech unicorn
- Reached a valuation of about 1.1 billion US dollars
- Raised 60 million US dollars, co-led by Sherpalo Ventures and Singapore's GIC
- Founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka (ex-ISRO engineers)
- Builds Vikram-1 and Vikram-2 orbital launch vehicles; launched Vikram-S in 2022
Exam Relevance
Relevant for UPSC Prelims (Science & Technology — Space), SSC CGL (General Awareness) and Banking exams (Economy — Start-ups).
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