Space startup Skyroot Aerospace reached unicorn status after raising $60 million, becoming India’s first spacetech unicorn, ahead of its Vikram-1 orbital rocket launch amid rising global satellite demand.
Key Highlights
- Skyroot Aerospace raised $60 million and reached a $1.1 billion valuation.
- The company is preparing for the upcoming Vikram-1 orbital rocket launch.
- Global demand for satellite launches is increasing across commercial and defence sectors.
- The global space economy is projected to surpass $1.8 trillion by 2035.
Skyroot Aerospace has reached unicorn status after raising $60 million in a fresh funding round that values the space startup at $1.1 billion. The round was backed by investors including Sherpalo Ventures, GIC, BlackRock, and other existing stakeholders.
The development comes as the company prepares for the launch of Vikram-1, its first orbital rocket designed for commercial satellite missions. The funding will support the expansion of manufacturing capacity, launch systems, and future rocket development programmes.
Funding Boost Ahead of Orbital Launch
Founded in 2018 by former ISRO scientists, Skyroot Aerospace became the first private Indian company to launch a rocket into space with the Vikram-S mission in 2022.
The company has now raised more than $160 million in total funding. Recent financial disclosures show FY24 revenue of around Rs 29 crore, while losses increased due to higher spending on research, testing, and infrastructure.
Growing Demand for Satellite Launch Services
The funding round reflects increasing global demand for commercial satellite launches driven by telecommunications, earth observation, and defence applications.
According to a 2025 industry outlook by McKinsey and the World Economic Forum, the global space economy could exceed $1.8 trillion by 2035, with satellite-based services forming a major share of growth.
Companies such as SpaceX, Rocket Lab, and Firefly Aerospace continue expanding launch capacity, while smaller launch providers are gaining attention for dedicated satellite deployment missions.
Vikram-1 Program in Focus
Skyroot Aerospace is currently preparing for the orbital launch of Vikram-1, a privately developed rocket designed to carry small satellites into low Earth orbit.
The company has said the latest funding will accelerate launch readiness and support development of its next-generation rocket systems under the Vikram programme.
FAQs
Q1. What makes Skyroot Aerospace a unicorn company?
Skyroot Aerospace became a unicorn after raising $60 million, valuing the space startup at $1.1 billion.
Q2. Why is Skyroot Aerospace significant in India’s space sector?
It is India’s first private space-tech company to reach unicorn status, ahead of its commercial orbital launch plans.
Q3. What is Vikram-1?
Vikram-1 is Skyroot Aerospace’s upcoming orbital rocket designed to carry small satellites into space.
Q4. Who invested in Skyroot Aerospace’s latest funding round?
The round included Sherpalo Ventures, GIC, BlackRock, and other existing investors.
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