Skyroot in talks for $300 million at nearly $3B valuation
Skyroot Aerospace, a Hyderabad-based startup founded by former ISRO scientists, is in talks to raise up to $300 million from big names like Fidelity, General Catalyst, and Benchmark.
If the deal goes through, Skyroot's value could soar to nearly $3 billion, making it a major moment for India's private space scene and marking Benchmark's first known direct investment in an Indian company.
Skyroot is India's space tech unicorn
Skyroot's valuation has shot up since it launched Vikram-1 in July, India's first privately built orbital rocket.
The company became India's first space tech unicorn earlier this year and is developing launch vehicles aimed at providing faster, more flexible, and cost-effective launches for small satellites.
With more global investors showing interest, including GIC and BlackRock, Skyroot is aiming high for its next phase of growth.