Skyroot Aerospace Seeks $200 Million Funding at $2 Billion Valuation

Indian spacetech startup Skyroot Aerospace is reportedly in talks with investors to raise $200 million in a new funding round, aiming for a valuation of $2 billion. This valuation represents a significant increase from the company's previous valuation of $1.1 billion in May.

Sources indicate that Skyroot has invited interested investors to submit bids for participation in the fundraising round. The company plans to evaluate these bids and select its preferred investors. The goal is to close the round within the next two months, with a stated interest in onboarding domestic investors.

The fundraising news follows Skyroot's recent achievement as the first private Indian company to successfully launch a rocket into Earth's orbit. Its Vikram-1 launch vehicle deployed payloads for both domestic and international clients into the intended low Earth orbit.

Founded in 2018 by former ISRO scientists, Skyroot develops modular launch vehicles for the global small satellite market. The company aims to capitalize on India's rapidly expanding space economy, projected to reach $77 billion by 2030.