Hyderabad-based Skyroot Aerospace has raised $60 million at a $1.1 billion valuation, making it the first Indian space technology company to be valued at more than a billion dollars. The round was announced on 7 May 2026.
Who invested
The round was co-led by GIC, Singapore's sovereign wealth fund, and Sherpalo Ventures. Other investors included the founders of Greenko Group, Arkam Ventures, funds managed by BlackRock, Playbook Partners and the Shanghvi Family Office. Skyroot has now raised $160 million in total.
What the money is for
The company said it will use the capital to scale the launch cadence of its Vikram-1 rocket, expand manufacturing capacity and speed up development of Vikram-2. At the time of the announcement Vikram-1 had not yet flown; Skyroot said it was targeting a first launch in the weeks after the raise, and it is working towards a 72-hour assembly-to-launch capability from a 250,000 sq ft facility.
Chief executive and co-founder Pawan Kumar Chandana told Via Satellite the company was planning "four to six launches this financial year", adding: "Depending on the observations of the first flight, we may have to change that."
Skyroot was co-founded by Chandana and Naga Bharath Daka.
Why it matters
The raise was the biggest single driver of Hyderabad's startup funding in the first half of 2026, and it puts a Telangana company at the front of India's private space sector.