India’s leading private space-tech company, Skyroot Aerospace has raised an additional US$ 27.5 million, equivalent to ₹225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore on Monday.
Hyderabad-based Skyroot plans to utilize the newly acquired capital to drive its next phase of growth through increased investments in infrastructure, reinforcement of its technology leadership, attraction of top-tier talent, and enhancement of its launch frequency and capabilities. The present capital infusion builds upon the company’s previous raise in 2022, bringing its total funding to US$ 95 million, which is the largest ever for an Indian Space-tech startup, according to an official release.
Pawan Kumar Chandana, the Co-founder and CEO of Skyroot, highlighted the significance of the funding round. “This new funding will enable us to accelerate our upcoming launches planned over the next two years even as we prepare for the launch of our second mission early next year. India’s successful moon landing mission has reignited global interest in our space prowess. As a key player in the private space industry, we are amplifying our capabilities to tap into the expanding global satellite launch market with a goal to emerge as a favourite ‘go-to’ choice in space launch services for small satellites,” he said.
