MUMBAI: Skyroot Aerospace, haa raised a fresh $60 million at a valuation of $1.1 billion making it India’s first space tech unicorn.The round was co-led by Sherpalo Ventures and GIC with participation from other existing investors including the founders of Greenko Group and Arkam Ventures. The founder of Sherpalo, Ram Shriram, a renowned tech investor and a Board member of Alphabet Inc, will be joining Skyroot’s Board.Also joining the cap table are funds managed by BlackRock, the world’s largest asset management company, Playbook Partners, a tech growth capital firm, Shanghvi Family Office, and others.The new capital will enable Skyroot to establish a high cadence of Vikram-1 launches; scale up manufacturing; and develop Vikram-2 (a 1-tonne class launch vehicle powered by an advanced cryogenic stage), expanding the range of missions and customers it can serve.“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector. This investment signals confidence from some of the world’s most reputed investors in Skyroot,” said Pawan Kumar Chandana, Co-Founder & CEO, Skyroot Aerospace.
