Skyroot a Hyderabad based Aerospace Technology startup raised ₹225 crore in funding

Skyroot.

Skyroot Aerospace is a Hyderabad-based space technology startup that is developing a family of launch vehicles to cater to the growing small satellite market. The company was founded in 2018 by a team of ex-ISRO scientists and engineers, and it has since raised over $95 million in funding, making it the most well-funded space-tech startup in India.

Skyroot's recent funding round of Rs 225 crore ($27 million) was led by Temasek, a global investment company headquartered in Singapore. The funding will be used to accelerate the development of Skyroot's Vikram series of launch vehicles, as well as to expand its manufacturing and testing facilities.

The Vikram series of rockets is designed to launch small satellites (weighing up to 700 kg) into orbit. The company's first rocket, Vikram-S, successfully completed a suborbital test flight in November 2022. Skyroot plans to launch its first orbital mission in early 2024.

Skyroot's launch vehicles are unique in several ways. First, they are designed to be highly cost-effective. Second, they use a variety of innovative technologies, such as 3D printing and carbon fiber composites, to reduce their weight and cost. Third, Skyroot is developing a proprietary launchpad that will allow it to launch rockets from multiple locations in India.

Skyroot's recent funding round is a significant milestone for the Indian space industry. It shows that there is growing investor interest in private space companies, and it validates Skyroot's approach to developing low-cost and reliable launch vehicles.

Tags : #startups #investment #funding #fundingupdates #technology #digital #innovation

Startups

Skyroot a Hyderabad based Aerospace Technology startup raised ₹225 crore in funding

Tags : #startups #investment #funding #fundingupdates #technology #digital #innovation

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