Swiggy cofounders pick up stake in India's first space unicorn Skyroot
New Delhi, June 16 -- Three weeks after Hyderabad-based Skyroot Aerospace became India's first space unicorn, the startup's cap table has added two new names, both among the most familiar faces in India's startup ecosystem over the past decade.
On 27 May, food delivery major Swiggy's cofounder and group chief executive Sriharsha Majety, and former cofounder Nandan Reddy, each invested Rs.4.99 crore in an ongoing pre-series C2 funding round at Skyroot Aerospace.
As per Skyroot's regulatory filings accessed by Mint, Majety and Reddy each acquired 202 compulsorily convertible preference shares (CCPS). The funding round valued Skyroot Aerospace at $1.25 billion post-money, days after it attained unicorn status by raising $60 million.
CCPS ...
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