Hyderabad-based Skyroot Aerospace has raised $60 million, approximately ₹500 crore in funding. After this investment, the company’s valuation has reached $1.1 billion, approximately ₹10,000 crore. This is the country’s first space startup to join the unicorn club. Manufacturing and Vikram-2 rocket development will accelerate CEO Pawan Kumar Chandana stated that the funding will be used for three purposes. Essential parts of Vikram-1 sent to Sriharikota, launch expected soon This funding comes at a time when the company is preparing for the first flight of its first private orbital rocket ‘Vikram-1’. Skyroot has recently sent critical parts of the rocket from its manufacturing facility in Hyderabad to Sriharikota in Andhra Pradesh. The company is planning to launch it in the next few weeks. The startup claims that their services for sending satellites into orbit will be the cheapest in the world. Google’s Early Investor Ram Shriram to Join Board This funding round was led by global institutional investors Sherpalo Ventures and GIC. Existing investors such as GreenCo Group founders and Arkam Ventures also participated in it. Google’s early investor Ram Shriram will now join Skyroot’s board. Apart from them, BlackRock, Playbook Partners and Sanghvi Family Office have also invested. Started with Vikram-S in 2022 Skyroot created history in 2022 by launching Vikram-S. This was India’s first privately built rocket. Vikram-1 is the next milestone in this journey, which will be able to reach orbit completely. Knowledge Part:
