Skyroot Aerospace Secures $27.5 Mn In Funding
Hyderabad-based space technology firm, Skyroot Aerospace, has successfully raised USD 27.5 million in a pre-Series C funding round, with global investment company Temasek leading the way.
The Singapore government-owned Temasek's investment is a significant boost to the Indian startup's aspirations. With this latest infusion of funds, Skyroot Aerospace has now accumulated a total of USD 95 million in funding.
Founded in 2018 by two space scientists, Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace has been dedicated to the design and production of small and medium-sized space launch vehicles. The company's achievements gained considerable attention in November 2022 when it marked India's and South Asia's maiden privately developed rocket launch, signaling its emergence as a key player in the space industry.
Skyroot Aerospace's services cater primarily to the global market for small and medium-sized satellites, particularly satellite operators seeking to deploy individual satellites or constellations across various orbital pathways. This recent funding influx will be instrumental in facilitating the company's plans for infrastructure and technology development, talent acquisition, and the enhancement of its launch capabilities.
The startup has ambitious goals, with its co-founder and CEO, Pawan Kumar Chandana, expressing excitement about the upcoming missions. As they prepare for the launch of their second mission scheduled for early next year, the additional capital is expected to expedite the company's plans for multiple launches over the next two years.
This financial boost positions Skyroot Aerospace to play a more prominent role in the ever-evolving space industry.
Skyroot Aerospace recently introduced the Vikram-1, a compact launch vehicle specifically engineered to transport small satellites into orbit. With a payload capacity of approximately 300 kilograms, the Vikram-1 is expected to play a pivotal role in serving the growing demand for launching smaller satellites. This innovation represents a vital step toward facilitating cost-effective and efficient access to space for a diverse range of applications.
