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Skyroot Aerospace is now in the big leagues.
What’s going on: the spacetech startup has raised $60 million in a new funding round co-led by Sherpalo Ventures and Singapore’s GIC. With this, Skyroot’s valuation has crossed $1.1 billion, making it India’s first spacetech unicorn.
Skyroot is working on its Vikram series, including Vikram-I and Vikram-II, designed to offer faster, more flexible, and cost-effective satellite launches.
In fact, it already made history in 2022 by becoming the first private Indian company to launch a rocket into space with Vikram-S.
Zoom out: startups in this space have raised over $650 million in the last decade, with funding peaking in 2025 at over $196 million. So far in 2026, the sector has attracted $48.7 million.
The government is also stepping on the gas. India’s space budget has nearly tripled from ₹5,615 crore in 2013-14 to ₹13,416 crore in 2025-26.
IN-SPACe has rolled out a ₹500 crore Technology Adoption Fund, covering up to 60% of project costs for startups and 40% for MSMEs. On top of that, a ₹1,000 crore venture capital fund has been introduced to boost private innovation by matching investments.
That said, it’s not all smooth sailing. Many startups still struggle to access these funds due to complex processes and limited financing options. So, there’s still a clear need for more space-specific financial tools.
