India’s first space tech unicorn emerges as Skyroot gears up for orbital launch

Skyroot Aerospace has become India’s first space tech unicorn after raising $60 million in a new investment ahead of the maiden orbital launch of its Vikram-1 rocket in the coming weeks.

The funding round valued the Hyderabad-based startup at $1.1 billion on a pre-money basis and included about $50 million in primary equity co-led by Sherpalo Ventures and GIC, along with around $10 million in structured debt managed by funds affiliated with BlackRock, the company told TechCrunch.