Skyroot Aerospace Secures $60 Million Funding, Joins India's Unicorn Club

Skyroot Aerospace has successfully raised $60 million, joining the ranks of India's unicorns, alongside KreditBee, which has also crossed the $1 billion valuation mark. This funding will enhance Skyroot's launch capabilities and accelerate the development of its Vikram-2 rocket. With a total of 131 unicorns in India, the startup ecosystem continues to thrive, driven by investor interest and digital adoption. Discover how these developments are shaping the future of India's aerospace and fintech sectors.

By Narendra Chaudhary May 8, 2026, 16:12 IST

Skyroot Aerospace's Remarkable Growth

The startup landscape in India is witnessing significant growth, particularly with the emergence of aerospace technology in the unicorn sector. Skyroot Aerospace has successfully secured $60 million (approximately Rs 570 crore) in a funding round co-led by Sherpalo Ventures and GIC, with contributions from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office.

Currently, India boasts around 230,000 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). Alongside Skyroot Aerospace, KreditBee has also achieved a valuation exceeding $1 billion, marking its entry into the unicorn category. As per data from market intelligence platform Tracxn, India has produced a total of 131 unicorns, with four new additions in 2026 as of May 7. Out of these, only 93 unicorns are still operational.

In 2025, the country welcomed nine new unicorns, a rise from seven in 2024 and just two in 2023. The peak of India's unicorn growth occurred in 2021, when 44 startups joined the ranks, followed by 24 in 2022.

Skyroot Aerospace plans to utilize the newly acquired funds to enhance launch frequency, boost manufacturing capabilities, and expedite the development of its next-generation Vikram-2 rocket. Notably, tech investor Ram Shriram will join the board of Skyroot as part of this funding round.

Founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot was among the first private enterprises to gain access to ISRO facilities and technical assistance following recent reforms.

The Hyderabad-based aerospace manufacturer gained significant attention in 2022 with the successful launch of Vikram-S, a suborbital rocket that reached space.

India's journey into the unicorn realm began with InMobi in 2011, fueled by increasing investor interest, digital transformation, and supportive policies. Last month, Bengaluru's KreditBee joined the unicorn ranks after raising $280 million in a pre-IPO round, bringing its valuation to $1.5 billion. This funding round was led by Motilal Oswal Alternates, Hornbill Capital, and MUFG-backed Dragon Funds, with participation from investors like Premji Invest and Advent International, among others. WhiteOak Capital and A.P. Moller Holding also contributed, raising KreditBee's total funding to approximately $540 million.