Skyroot Aerospace, a Hyderabad-based private launch-vehicle company, becomes India’s first space-tech “unicorn” after raising new funding that more than doubles its valuation from its 2023 level. Multiple outlets report that the company’s latest round is backed by major institutional investors, including funds associated with GIC and BlackRock. NDTV reports the company raises $60 million, while other coverage describes the round as a fresh financing event that pushes the startup into unicorn territory.
The fundraising is timed with Skyroot’s preparations for Vikram-1, India’s first privately developed orbital rocket. The company is preparing for the rocket’s maiden flight, with launch planned from Sriharikota. The reports characterize Vikram-1 as the first private Indian rocket attempting an orbital milestone. Coverage across outlets links the new funding to the upcoming launch schedule and the broader growth of India’s private space sector, while noting that Skyroot is preparing for the mission in the coming weeks or ahead of a planned launch window.
