Deep Tech Milestone in India
Hyderabad-based Skyroot Aerospace has officially entered the unicorn club, securing a $60 million funding round that pushes its valuation to over $1.1 billion. The round was co-led by Sherpalo Ventures and GIC, with significant participation from BlackRock, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office.
Technological Roadmap
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is fundamentally changing the economics of space access. The fresh capital is earmarked for three primary initiatives:
- Scaling manufacturing capacity for the Vikram rocket series.
- Increasing launch frequency for the Vikram-1 vehicle.
- Accelerating the development of Vikram-2, which will incorporate a high-performance cryogenic stage.
Market Context
Despite remaining in the pre-revenue stage as of March 2025 with R&D-driven losses of Rs 99.70 crore, investors are betting on the long-term capture of the global small-satellite launch market. The company previously made history in 2022 as the first private Indian firm to successfully launch a rocket into space.
Founder Takeaway
Skyroot’s journey demonstrates that high-capex, deep-tech startups can secure massive institutional backing if they pair a clear technological edge (Vikram series) with a proven mission capability (Vikram-S). Founders in hardware sectors should prioritize demonstrating ‘milestone-based progress’—like successful test flights—as the primary vehicle for unlocking subsequent capital rounds.