Skyroot Aerospace Private Limited, an innovative leader in the Indian aerospace sector, recently secured a substantial $60 million investment. This funding round, co-led by Sherpalo Ventures and GIC, also saw participation from BlackRock-managed funds, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office.
The legal landscape of this significant transaction was shaped by Trilegal, who provided advisory services to Skyroot. On the other side of the table, TT&A offered legal counsel to investor Playbook India Fund II, part of Playbook Partners India. The TT&A legal team was spearheaded by Partner Dushyant Bagga, alongside Counsel Akshita Alok and Senior Associate Radhika Sarda.
Headquartered in Hyderabad, Telangana, Skyroot Aerospace is recognized as a premier private aerospace manufacturer and commercial launch service provider in India. The company is renowned for its Vikram series of rockets, which offer flexible and responsive satellite launch services.
With the fresh infusion of funds, Skyroot has surpassed a valuation of $1.1 billion, propelling it to ‘unicorn’ status. This milestone positions the company to enhance its infrastructure and scale operations. The primary focus will be on increasing the frequency of Vikram-1 launches and advancing the development of Vikram-2. This upcoming launch vehicle is a 1-tonne-class rocket featuring an advanced cryogenic stage, designed to cater to a broader array of missions and clients.
Skyroot’s advancement underscores the growing prominence of private space companies in India, reflecting the sector’s potential to attract significant investment and drive technological innovation.
