Hyderabad-based startup Skyroot Aerospace has achieved a historic milestone by becoming India’s first space-tech unicorn. The company recently raised nearly $60 million in fresh funding, pushing its valuation above $1 billion. Major investors in the funding round include GIC, Sherpalo Ventures, and BlackRock-managed funds.
Founded in 2018, Skyroot Aerospace gained national attention after successfully launching India’s first privately developed rocket in 2022. The company is now preparing for the launch of Vikram-1, which is expected to become India’s first private orbital rocket mission. Experts believe this achievement reflects the growing strength of India’s private space industry and Hyderabad’s rising reputation as a technology and innovation hub.
The success of Skyroot Aerospace is also being celebrated as a major achievement for Telangana’s startup ecosystem. Hyderabad already hosts several technology companies and Global Capability Centres, and the rise of a space-tech unicorn has further strengthened investor confidence in the city. Government officials stated that Hyderabad is becoming an important centre for aerospace, defence, semiconductor, and technology industries.
Industry analysts believe this funding will help Skyroot expand manufacturing, improve launch frequency, and accelerate the development of future rockets. The company’s growth is also expected to create more employment opportunities in engineering, research, and advanced manufacturing sectors. Many experts see this milestone as a turning point for India’s private space sector and a proud moment for Hyderabad’s innovation ecosystem.
News as reported
