Rockets To Riches: Skyroot Aerospace Raises $60 Million, India’s First Spacetech Unicorn Emerges

On May 7, 2026, Skyroot Aerospace announced its landmark funding round co-led by Sherpalo Ventures (founded by Ram Shriram, early Google investor) and Singapore’s sovereign wealth fund GIC, with participation from BlackRock, Playbook Partners, Shanghvi Family Office, Greenko Group, and Arkam Ventures. This milestone cements Skyroot as India’s first unicorn in the private space-tech sector.

Funding Details

The $60 million round pushed Skyroot’s valuation to $1.1 billion, more than doubling from its 2023 valuation of $519 million. Ram Shriram will join Skyroot’s board, signaling strong global investor confidence in India’s private space ecosystem.

Upcoming Launches

Skyroot is preparing for the maiden flight of Vikram-1, India’s first privately developed orbital rocket, designed to deploy satellites up to 350 kg into low Earth orbit. The rocket features carbon composite structures, in-house propulsion systems, and 3D-printed engines. The company also announced plans for Vikram-2, a one-tonne class launch vehicle with an advanced cryogenic stage.

Industry Impact

This achievement marks a turning point for India’s private space sector, opened to private participation in 2020. Lt. Gen. A.K. Bhatt (Retd.), Director General of the Indian Space Association, described Skyroot’s unicorn status as a “defining moment for India’s private space ecosystem.”

Key Highlights

•⁠  ⁠Skyroot Aerospace raises $60 million, valued at $1.1 billion

•⁠  ⁠Becomes India’s first spacetech unicorn

•⁠  ⁠Funding co-led by Sherpalo Ventures and GIC, with BlackRock participation

•⁠  ⁠Preparing maiden launch of Vikram-1 orbital rocket

•⁠  ⁠Developing Vikram-2 with advanced cryogenic stage

•⁠  ⁠Total funding raised now exceeds $160 million

Sources: Deccan Herald, The Hans India, Business Today, Mint, CNBC TV18