Skyroot Aerospace successfully raised US$51 million (₹403 crore) Series-B financing round and is considered to be the largest funding round ever in the Indian space-tech sector on Friday.
GIC, which is one of the most established investors, led the funding round and managing director Mayank Rawat will be joining Skyroot’s Board.
The space startup is pioneering the country’s first privately developed space launch vehicles with its flagship Vikram series (named after the founder of India’s space programme Vikram Sarabhai) uniquely built with an all-carbon-fibre structure to launch up to 800 kg of payloads to Low Earth Orbit (LEO).
