Skyroot Aerospace Achieves Unicorn Status with $60 Million Funding Ahead of Vikram-1 Launch

Skyroot Aerospace Secures Significant Funding

Skyroot Aerospace, a space startup based in Hyderabad, has successfully raised approximately $60 million in new funding just weeks prior to the launch of Vikram-1, marking India's first privately developed orbital rocket. This achievement has propelled Skyroot to become the first space-tech unicorn in India, with a valuation nearing $1.1 billion. Founded by former Indian Space Research Organisation (ISRO) scientists and engineers, Pawan Kumar Chandana and Naga Bharath Daka, the company is set to revolutionize the space industry.

Founders' Backgrounds

Pawan Kumar Chandana, an aerospace engineer and the co-founder & CEO of Skyroot Aerospace, studied mechanical engineering at the Indian Institute of Technology Kharagpur (IIT Kharagpur) before joining ISRO as a rocket engineer, where he contributed to launch vehicle systems and mission development. Naga Bharath Daka, the co-founder & COO, specialized in electronics and software systems engineering at IIT Madras and has experience working with Xilinx, a prominent American technology firm.

The Journey of Skyroot Aerospace

Established in 2018, Skyroot Aerospace was co-founded by Chandana and Daka with the aim of making space launches more affordable and accessible for small satellite operators globally. In 2020, the company made history by becoming the first private entity to sign a contract with ISRO. In November 2022, Skyroot launched Vikram-S, becoming the first private Indian firm to send a rocket into space. Currently, the company is focused on developing the Vikram series of orbital launch vehicles for international satellite clients.

Future Plans and Industry Growth

With the recent funding, Skyroot plans to enhance its launch frequency, expand manufacturing capabilities, and accelerate the development of its next-generation Vikram-2 rocket. As of now, India boasts nearly 230,000 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). According to data from Tracxn, India welcomed nine new unicorns in 2025, an increase from seven in 2024 and two in 2023.