In a significant milestone, Skyroot Aerospace Private Limited, an Indian aerospace manufacturer, has successfully raised $60 million through a funding round co-led by Sherpalo Ventures and GIC. Additional contributions were made by funds managed by BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office. This funding round has propelled Skyroot Aerospace to unicorn status, with the company’s valuation now surpassing $1.1 billion.
Legal Advisory for Skyroot and Investors
Trilegal provided legal counsel to Skyroot Aerospace during this fundraising process. The transaction team at Trilegal was spearheaded by Partner Vishruta Kaul, and included Counsel Bhavya Vatsa, Senior Associate Advaye Sawhney, and Associate Saksham Gadia.
On the investor side, TT&A offered its legal expertise to Playbook India Fund II, a scheme under Playbook Partners India, with the team led by Partner Dushyant Bagga, Counsel Akshita Alok, and Senior Associate Radhika Sarda.
Skyroot’s Future Endeavors
Skyroot Aerospace, headquartered in Hyderabad, Telangana, has established itself as a key player in the private space sector within India. The company specializes in on-demand satellite launches using its Vikram series of rockets. The fresh capital injection will enable Skyroot to enhance the frequency of its Vikram-1 launches, expand its manufacturing capabilities, and advance the development of Vikram-2. This new vehicle, a 1-tonne-class launch vehicle, will feature an advanced cryogenic stage, broadening the scope of missions Skyroot can undertake and the range of clients it can serve.
This investment not only underscores the growing interest in India’s private space industry but also marks a significant step forward in Skyroot’s mission to offer reliable and cost-efficient access to space.
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