Swiggy founders invest ₹4.99cr each in Skyroot Aerospace, $1.25bn valuation
Swiggy cofounder and group chief executive Sriharsha Majety and former cofounder Nandan Reddy just invested ₹4.99 crore each in Skyroot Aerospace, India's first space unicorn as of May 2026.
Their investment helped bump Skyroot's valuation up to $1.25 billion, only days after the company hit unicorn status with a $60 million raise.
Skyroot expected to launch Vikram commercially
The Swiggy cofounder and group chief executive Sriharsha Majety, former cofounder Nandan Reddy picked up 202 compulsorily convertible preference shares (CCPS) each: basically, these can convert into equity at a future date, typically when a company goes public or during specified liquidity events.
Founded in 2018, Skyroot made headlines by launching India's first private suborbital rocket in 2022.
Now they are expected to make their first commercial launch later this fiscal year with their Vikram rocket and have big plans for three demo launches by 2027.
They are also eyeing more than ₹100 crore in operating revenue for fiscal 2026 from early satellite contracts.