Mumbai, Maharashtra, 8th of May 2026 : India’s private space sector is no longer just about dreams — it is rapidly emerging as a global force capable of challenging the world’s biggest players. In a major milestone for the country’s space-tech ecosystem, Indian aerospace startup Skyroot Aerospace has raised nearly $60 million in fresh funding, officially becoming a unicorn with a valuation of $1.1 billion. The funding comes just ahead of the historic first orbital launch of its Vikram-1 rocket, marking a defining moment for India’s growing private space industry.
The investment round was led by Sherpalo Ventures and global investor GIC, with participation from funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Sanghvi Family Office. With this fresh capital, Skyroot plans to accelerate its commercial launch operations, increase the launch readiness of Vikram-1, and aggressively advance the development of its next-generation Vikram-2 rocket.
Skyroot Aerospace Co-founder and CEO Pawan Kumar Chandana described the development as a historic moment for India’s private space sector. He said the Vikram-1 mission is expected to give India a stronger identity in the global space launch market and position the country as a serious contender in the rapidly expanding commercial space economy.
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