Skyroot Aerospace raises $27.5 million in funding round led by Temasek
Spacetech company Skyroot Aerospace on Monday said it has raised $27.5 million in a pre-Series C funding round led by Temasek, a global investment company owned by the government of Singapore.
The startup plans to utilise the newly acquired capital to build its infrastructure and technology, attract talent and enhance its launch frequency and capabilities.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitThe latest infusion lifts the total funding raised by the company to $95 million.
The Hyderabad-headquartered startup, founded in 2018 by space scientists Pawan Kumar Chandana and Naga Bharath Daka, designs and builds small and medium-sized space launch vehicles. In November 2022, it successfully launched a privately developed rocket. It was India’s and South Asia’s first such launch.
The company offers its services to the global small and medium-sized satellite market, particularly to satellite operators looking to deploy single satellites or constellations of satellites across orbits.
“As we prepare for the launch of our second mission early next year, this new funding will enable us to accelerate our upcoming launches planned over the next two years,” said Chandana, cofounder and CEO of Skyroot.
On October 24, Skyroot Aerospace unveiled the Vikram-1, a small launch vehicle that’s designed to carry small satellites into orbit, with a capacity to place about 300 kilogram payloads in orbit.
