Skyroot Aerospace Becomes India's First Space Unicorn

Skyroot Aerospace has made headlines by becoming India's first unicorn in the space sector, achieving a valuation of over $1 billion after a significant funding round. Founded by former ISRO scientists, the company is preparing to launch Vikram-1, India's first privately developed orbital rocket. This milestone marks a significant advancement for India's private space industry, which has seen a surge in unicorns in recent years. With nearly 230,000 startups recognized, India's startup ecosystem continues to thrive, showcasing the country's growing innovation in various sectors.

By Narendra Chaudhary May 9, 2026, 13:07 IST

India Welcomes Its Newest Unicorn

India's Startup Ecosystem Expands: The Indian startup landscape has welcomed a new unicorn, this time emerging from the space industry. Skyroot Aerospace, based in Hyderabad, has achieved a valuation exceeding $1 billion after securing $60 million (approximately Rs 570 crore) in a recent funding round, co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC. Other notable investors include BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office. As per data from Tracxn, India has now produced 131 unicorns, with four new additions in 2026 as of May 7.

Key Highlights About Skyroot Aerospace:

1. Pioneering Space Tech Unicorn

Skyroot Aerospace has made history as India’s first space technology startup to reach unicorn status, with its valuation reportedly hitting $1.1 billion following the latest funding.

2. Founded by Ex-ISRO Experts

The startup was established by former scientists and engineers from the Indian Space Research Organisation (ISRO), focusing on commercial satellite launch services and developing rockets for private space missions.

3. Launching Vikram-1 Soon

Skyroot is gearing up for the launch of Vikram-1, anticipated to be India’s first privately developed orbital rocket. The company states that this rocket is designed to transport satellites and payloads into orbit. “We at Skyroot are thrilled about the upcoming Vikram-1 launch, which represents a significant milestone for both India and the global space industry. This investment reflects the confidence of some of the world’s most esteemed investors in Skyroot,” remarked Pawan Kumar Chandana, co-founder and CEO of Skyroot Aerospace.

4. A Milestone for India's Private Space Sector

The achievement of unicorn status by Skyroot is viewed as a pivotal moment for India’s private space sector. In recent years, the country has opened its space industry to private enterprises, enabling startups to develop rockets, satellites, and launch services alongside government entities.

5. Continued Growth of Indian Unicorns

India now boasts nearly 230,000 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). According to Tracxn, the country added nine unicorns in 2025, compared to seven in 2024 and two in 2023. The most significant surge in unicorns occurred in 2021, with 44 startups joining the unicorn ranks.