Indian spacetech startup Skyroot Aerospace has raised USD 60 million in a fresh round of funding at a valuation of USD 1.1 billion. \u00a0\u00a0<\/p>\n
This equity round was co-led by Sherpalo Ventures and GIC, with participation from funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Paybook Partners, Shanghvi Family Office, and other investors, Skyroot said. \u00a0<\/p>\n
The funding round comes as the Hyderabad-based company prepares for the flight of Vikram-1, India\u2019s first privately developed orbital rocket.<\/p>\n
\u201cWe at Skyroot are excited about the upcoming Vikram-1 launch, India\u2019s first private orbital rocket, marking a significant milestone both for India and the global space sector,\u201d said Pawan Kumar Chandana, Co-Founder and CEO of Skyroot Aerospace. \u201cThis investment signals confidence from some of the world\u2019s most reputed investors in Skyroot.\u201d\u00a0<\/p>\n
\u201cI\u2019ve believed in the Skyroot team since the early days, and that conviction has only deepened as the team marches forward to the launchpad with Vikram-1, lndia\u2019s first private orbital-class rocket,\u201d said Ram Shriram, Founder & Managing Partner, Sherpalo Ventures. \u201cAccess to space is one of the key challenges of our time. Skyroot is building the foundational infrastructure for that future with the best cost-to-performance ratio in the orbital-launch industry, and what the team has achieved is remarkable.\u201d \u00a0<\/p>\n
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