India, May 7 -- Spacetech startup Skyroot Aerospace has raised $60 Mn (around Rs.570 Cr) in a round co-led by existing investors American billionaire Ram Shriram's Sherpalo Ventures and Singapore's sovereign wealth fund GIC.

The round also saw participation from BlackRock, Playbook Partners, Shanghvi Family Office, and existing investors including the founders of Greenko Group and Arkam Ventures.

Shriram will also join the startup's board, it said.

The funding round doubled Skyroot's pre-money valuation to $1.1 Bn from $550 Mn in 2023. The startup has raised $155 Mn in funding to date, including $51 Mn in its Series B round in 2022.

Founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, Skyroot has built a modular space launch...