Skyroot Invites Bids To Raise $200 Mn At A Valuation Of $2 Bn

Skyroot Aerospace, a prominent player in the Indian space technology sector, is seeking fresh funding for its ambitious growth plans. Barely three months after successfully raising $60 million at a staggering unicorn valuation, the startup has announced plans to invite investors to bid for a substantial $200 million in capital, with an expected valuation of $2 billion. This marks an impressive 80% increase from Skyroot's previous valuation of $1.1 billion, set just earlier this year.

Unlike conventional funding rounds, Skyroot has opted for a bid-based approach, inviting investors to submit proposals detailing their interest in participating in the fundraise. The company, founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, aims to onboard domestic investors to its cap table, in addition to existing backers like GIC and Temasek.

The company's ambitious plans include launching multiple rockets this year, with the successful Vikram-1 mission serving as a testament to its technological prowess. Standing seven storeys tall, the Vikram-1 rocket is a four-stage marvel, capable of carrying payloads up to 480 kg to Low Earth Orbit (LEO) and 290 kg to Sun Synchronous Orbit. Its innovative design, combining solid and liquid propulsion, 3D-printed engines, and pneumatic stage separation systems, sets it apart in the competitive space launch market.

Skyroot's Infinity Campus in Hyderabad, sprawling over 2 lakh square feet, is equipped to manufacture one orbital rocket per month, reflecting its commitment to rapid development and deployment. The startup has already raised over $150 million in funding and boasts a roster of notable investors including Sherpalo Ventures, Temasek, and BlackRock.

With India's space technology economy projected to reach $77 billion by 2030, Skyroot is well-positioned to capitalize on this burgeoning market. The company plans to introduce Vikram-1U, an upgraded version featuring strap-on boosters, in the first quarter of 2027, and is also developing Vikram-2, a one-tonne-class launch vehicle with a cryogenic upper stage, to further diversify its portfolio. As Skyroot gears up for its next fundraising round, the future of Indian space technology looks brighter than ever.