Skyroot Aerospace Completes Series A For Affordable, On-Demand Space Travel

What Happened: Founded in 2018 by former Indian Space Research Organization (ISRO) scientists Pawan Kumar Chandana and Naga Bharath, Skyroot Aerospace is India’s leading private space launch company.

In a move to acquire new talent and complete development of its Vikram-1 launch vehicle, the company raised an $11 million Series A. With the funding, the company aims to reach orbit, with 90% less development cost than competitors, as early as next year.

Why It Matters: Having successfully tested a liquid propulsion engine, a solid rocket stage, and pressure tested their high-strength carbon composite third stage, the company is looking to get its core product – Vikram series – to launch and support communication services.

"The Vikram series of rockets are built on upgradeable architecture which can be assembled and launched in less than 72 hours and can take satellites up to 720 kg to low Earth orbit in the most cost-effective way," said Mr. Chandana, CEO of Skyroot. "It also comes with a space tug as its upper stage for the last mile of delivery and can reach multiple orbits in a single launch — giving our customers the benefit of both a rocket and space tug in one."

Future Plans: Skyroot is looking to build its presence in the U.S. and raise an additional $40 million.

To learn more about Skyroot, click here.