India Gets New Unicorn: India has added a new unicorn to its growing startup ecosystem – and this time, it is from the space sector. Hyderabad-based Skyroot Aerospace has crossed the $1 billion valuation mark after raising $60 million (around Rs 570 crore) in a fresh funding round co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC.
Other investors in the round included BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners and the Shanghvi Family Office.
According to startup data platform Tracxn, India has created 131 unicorns so far, with four new unicorns added in 2026 as of May 7.
Also Read: India’s Unicorn Race Heats Up With Skyroot Aerospace, KreditBee Entry
Here are 5 key things to know about Skyroot Aerospace:
1. India’s First Space Tech Unicorn
Skyroot Aerospace has become India’s first space-tech startup to achieve unicorn status.
The company’s latest valuation has reportedly touched $1.1 billion after the latest funding round.
2. Founded By Former ISRO Scientists
Skyroot was founded by former scientists and engineers from Indian Space Research Organisation (ISRO).
The startup focuses on commercial satellite launch services and is building rockets designed for private space missions.
3. Preparing To Launch Vikram-1
The company is currently preparing for the launch of Vikram-1, which is expected to become India’s first privately developed orbital rocket.
Skyroot says the rocket is designed to carry satellites and payloads into orbit.
“We at Skyroot are excited about the upcoming Vikram-1 launch, India’s first private orbital rocket, marking a significant milestone both for India and the global space sector. This investment signals confidence from some of the world’s most reputed investors in Skyroot,” said Pawan Kumar Chandana, co-founder and CEO of Skyroot Aerospace.
4. Big Moment For India’s Private Space Sector
Skyroot’s unicorn status is being seen as a major milestone for India’s private space industry.
In recent years, India has opened up the space sector to private companies, allowing startups to build rockets, satellites and launch services alongside government agencies.
5. India’s Unicorn Growth Continues
India now has nearly 2.3 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).
According to Tracxn data, India added nine unicorns in 2025, compared to seven in 2024 and two in 2023.
The country’s biggest unicorn boom came in 2021, when 44 startups entered the unicorn club.
