Following India's decision to open its space industry to private companies in 2020, Skyroot Aerospace is preparing to launch its first orbital rocket within months, backed by a recent $60 million funding round that values the company at $1.1 billion.
- Skyroot founded by ex-ISRO engineers in 2018
- Vikram-1, a solid-fueled rocket, targets orbital launch soon
- Recent funding round values Skyroot at $1.1 billion
What happened
In response to the global rise of commercial space ventures, the Indian government opened its space industry to private players in 2020, permitting companies to build rockets and launch from government facilities. Among the newcomers, Skyroot Aerospace, founded in 2018 by Pawan Kumar Chandana and Naga Bharath Daka, is now poised to achieve its first orbital launch with the Vikram-1 rocket.
Skyroot’s Vikram-1, a three-stage solid-fuel rocket, is designed to place nearly 500 kilograms into low-Earth orbit. The company has refined its technology through the suborbital Vikram-S flight in 2022, which successfully tested key components and boosted confidence ahead of this upcoming orbital attempt.
Why it matters
The emergence of Skyroot Aerospace marks a significant turning point in India's space program, transitioning from a wholly government-controlled domain to a more commercially competitive sector. This shift is expected to foster innovation and increase access to space for India and its commercial customers.
Skyroot’s approach, prioritizing solid rocket technology for faster development and scalability, coupled with recent capital inflows totaling $60 million, positions the startup to compete with international small launch providers. This could accelerate satellite deployment capabilities for the region and strengthen India's position in the global space market.
What to watch next
Attention now centers on the upcoming launch window for Vikram-1, which if successful, will validate Skyroot’s technology and open opportunities for further commercial contracts, including potential government payloads. The launch will also test India’s regulatory frameworks for private launches.
Following the test flight, Skyroot’s ability to scale production and secure larger contracts will be key indicators of its long-term impact. Observers will also watch how the startup leverages its unique manufacturing choices and government collaborations to carve out a sustainable role in the evolving global launch market.