India, May 7 -- Skyroot Aerospace, the Hyderabad-based private space launch company, announced on 7 May that it had raised Rs 570 crore (around USD 68 million) in fresh funding from a group of existing and new investors.

The round was co-led by Sherpalo Ventures, founded by Ram Shriram, the sovereign wealth fund of Singapore. Other participants included BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners and Shanghvi Family Office.

Sherpalo, GIC, BlackRock, Greenko Group and Arkam Ventures were existing backers of the company, while Playbook Partners and Shanghvi Family Office joined as new investors.

Eight years after its founding, Skyroot Aerospace said the latest funding round values the company at USD 1.1 bi...