Former ISRO Scientists’ Venture, Skyroot Aerospace, Gets Backing from Temasek in a $27.5M Round
Skyroot Aerospace, a Hyderabad-based spacetech startup, has raised a new round of capital from Singapore state investment firm Temasek. This development materialized a year after the Singapore state’s sovereign wealth fund GIC backed the Hyderabad-based startup.
Skyroot Aerospace has secured an additional $27.5 million (₹225 crore) in a pre-Series C round led by Temasek, securing a total of about $95 million in external capital till date.
As per the startup, the freshly raised capital will propel it into commercial satellite launches. It will fuel tech innovation, attract top talent, and enable the startup to amp up its launch frequency and capabilities.
Skyroot Aerospace | Making Spaceflight Affordable, Reliable and Regular
Founded in 2018 by Naga Bharath Daka and Pawan Kumar Chandana, former Indian Space Research Organisation (ISRO) scientists, Skyroot Aerospace builds technologies for responsive, reliable, and economic access to space. The Hyderabad-based spacetech startup is on a mission to open space for all by making spaceflight affordable, reliable, and regular.
Speaking about the development, Pawan Kumar Chandana, Co-founder and CEO of Skyroot, said,
“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.”
As per Chandana, the new funding would enable the startup to accelerate its upcoming launches planned over the next two years.
Bharath Daka, Co-founder and COO of Skyroot Aerospace, while highlighting the excitement to welcome a globally renowned investor like Temasek, added that the funding would help the spacetech firm to invest in the enhancement of its production infrastructure and R&D. It will also enhance the team strength and enable the startup to achieve higher launch cadence in the years to come.
Developments in Spactech India
Last year in November, Skyroot Aerospace launched India’s first-ever private rocket, with new government policies giving up a push to the growing sector and increasing opportunities for private sector participation. It’s noteworthy that a few days back, Mumbai-based spacetech startup Manastu Space secured $3 million (Rs 25 crore) in a pre-Series A funding round led by Indian Angel Network (IAN) to develop its green propulsion system for satellites.
In other developments in the spacetech sector this year, Bengaluru-based space tech startup SatSure bagged $15 million in funding in August, which it plans to deploy to launch a fleet of four high-resolution optical and multispectral satellites by the fourth quarter of 2025.
Also, in June, Pixxel, a space-tech startup based out of Bengaluru, raised $36 million in a Series B funding round from Google for the further development of Aurora, its AI-powered analytics platform, and more.
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