Two IIT Grads, One Giant Leap: How India's Rocket Scientists Left ISRO To Build Its SpaceX

The Story So Far

Two engineers who once designed rockets for India's state space agency quietly walked out of ISRO's Vikram Sarabhai Space Centre in 2018 and started a garage-stage startup in Hyderabad. That startup Skyroot Aerospace just became the country's first space-tech unicorn, funded by the likes of Singapore's sovereign wealth fund GIC, BlackRock, and Ram Shriram's Sherpalo Ventures. India's NewSpace era has officially found its poster children.

Meet The Founders

Pawan Kumar Chandana, CEO and co-founder, is an IIT Kharagpur alumnus who spent six years at ISRO's VSSC working on the GSLV Mk-III rocket before co-founding Skyroot. His partner, Naga Bharath Daka, COO and co-founder, is an IIT Madras graduate who specialised in flight computer avionics and navigation systems at the same lab from 2012 to 2015. Together, they represent what happens when government-trained precision meets entrepreneurial hunger.

From Vikram-S To Vikram-1: The Launch Ladder

In November 2022, Skyroot made history by launching Vikram-S India's first privately developed rocket under Mission Prarambh, a name that fittingly means "a beginning." Now, with Vikram-1 flagged off to Sriharikota in April 2026 and a June launch window targeted, the company is gunning for India's first privately built orbital mission. The 23-metre, four-stage rocket can carry up to 350 kg to Low Earth Orbit and is designed to launch within 24 hours of arriving at the pad.

The Unicorn Moment

Skyroot Secures Funding Highlights

• Raised $60 million in May 2026, pushing total capital raised to $160 million
• Valuation stands at $1.1 billion — more than double its $519 million valuation in 2023
• Round co-led by GIC and Sherpalo Ventures, with BlackRock and Shanghvi Family Office also joining
• Ram Shriram, a Board member of Alphabet Inc., to join Skyroot's Board
• India's first and only space-tech unicorn to date

What's Next On The Launchpad

Skyroot aims to produce and launch one rocket per month by 2027, with four to six Vikram-1 missions planned in the current financial year alone. The company is developing Vikram-2 in parallel to target a broader spectrum of commercial satellite customers. With ISRO continuing to serve as a collaborating force rather than a competitor, India's private space ecosystem is graduating from curiosity to commercial credibility fast.

Sources: Times Now News, Moneycontrol, Business Standard, Economic Times, Satellite Today, India Today, Siasat Daily