Skyroot Aerospace Becomes India's First Space Unicorn

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:

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.

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.

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.

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.

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.