Hyderabad-based space-tech startup Skyroot Airways is planning to raise fresh funding of $150 to $200 million (about Rs 1,800 crore). According to the report, the company’s valuation could reach around $1 billion after this funding round, making it India’s first space-tech unicorn.
Skyroot provides on-demand satellite launch services. The proposed investment will be used to accelerate the next phase of the company’s expansion. According to the report, the company has appointed Kotak Mahindra Capital as advisor for this minority stake sale.
Global investors GIC and Temasek already have stakes in the company. These two investors together had invested $27.5 million in the 2023 funding round. At that time the company was valued at $519 million, which was more than four times the valuation of $163 million a year earlier.
The company is planning to issue new equity in the upcoming funding round, which will not affect the stake of existing investors. If this funding is successful, Skyroot will be India’s first space-tech startup to reach a valuation of $1 billion.
Skyroot was founded in 2018 by former ISRO scientists Pawan Kumar Chandna and Naga Bharath Daka. The founders hold about 26 percent stake in the company. There are more than 300 space-tech startups currently active in the country, but none has achieved unicorn status so far.
India’s aerospace and space sector has grown rapidly in recent years. Investment has seen a significant increase after the government allowed 100 percent foreign direct investment (FDI). According to analysts, India’s share in the global space economy could reach 8 percent by 2033. The global space economy is expected to reach $44 billion by the same period.
According to media reports, investment in space and defense technology startups in India has increased from $76 million in 2021 to $358 million in 2025. In such a scenario, Skyroot’s potential unicorn status could prove to be an important milestone for the Indian space-tech ecosystem.
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