India, May 8 -- Skyroot Is A Unicorn

Defying the current funding trends, Skyroot vaulted into the billion-dollar valuation club after raising a big-ticket round to build India's first privately developed orbital rocket, Vikram-1. The spacetech startup raised $60 Mn in a round, co-led by Sherpalo Ventures and Singapore's GIC.

The funding doubled the startup's valuation to $1.1 Bn from $550 Mn in 2023.

Skyroot's Launch Roadmap: A bulk of the capital will be utilised to establish a steady cadence of Vikram-1 launches (starting in the coming weeks), expand manufacturing and widen its mission profile. Meanwhile, it is also accelerating development for Vikram-2, a one-tonne-class rocket featuring an advanced cryogenic stage.

By building a d...