Skyroot Aerospace Raises $51 Million Led by GIC to Propel the New Future of Small Satellite Launches
15.9.2022 03:48:00 EEST | Business Wire | Press release
Space-tech startup Skyroot Aerospace from India, successfully raised US$51 million Series-B funding round led by GIC, a leading global investment firm. This is the largest funding round ever in the Indian private Space-Tech sector, which validates Skyroot’s strengths in space technology and helps meet the burgeoning demand from the international small satellite markets.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220905005172/en/
Skyroot founders Pawan Kumar Chandana (right) & Naga Bharath Daka (left) (Photo: Business Wire)
As part of the investment, Mayank Rawat, Managing Director of GIC India Direct Investment Group, will join Skyroot’s Board.
“This round puts us in a trajectory of hyper-growth by funding all of our initial launches, and enables building infrastructure to meet high launch cadence required by our satellite customers. Our goal is to become the best-in-class launch services provider and go-to destination for affordable and reliable small satellite launches, ” said Pawan Kumar Chandana, Co-Founder and CEO, Skyroot.
“We have validated all three propulsion technologies in our Vikram space launch vehicles, and completed a full duration test of one of our rocket stages in May’22. We are also planning a demonstrator launch this year. This round will help us get to full-fledged commercial satellite launch scale within a year. We have started booking payload slots for our upcoming launches,” said Naga Bharath Daka, Co-Founder and COO, Skyroot.
Critical steps in the development of Skyroot's space launch vehicles have been accomplished. The flagship Vikram Launch Vehicle series is uniquely built with an all-carbon-fiber structure, and can launch up to 800 kg of payloads to Low Earth Orbit.
With a strong tech team of 1000+ years cumulative rocket industry experience, Skyroot is envisioning a world where space flight is as affordable, regular, and reliable as air flight. Skyroot is the first startup to sign an MoU with the ISRO for sharing facilities and expertise.
The 4-year-old Skyroot has successfully built and tested India's first privately developed cryogenic, hypergolic-liquid, and solid fuel-based rocket engines; the R&D and production activities extensively use advanced composite and 3D-printing technologies.
The global space launch services market is projected to grow from $14.21 billion in 2022 to $31.90 billion by 2029, at a CAGR of 12.25%.
About Skyroot: www.skyroot.in
About GIC: www.gic.com.sg
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220905005172/en/
Contact information
Contact for Skyroot: Sheela Panicker | +91 984 980 9594
Customer contact: payloads@skyroot.in
Contacts for GIC
Mah Lay Choon | +65 6889 6841 | mahlaychoon@gic.com.sg
Toh Chuan Ting |+65 6889 8839 | tohchuanting@gic.com.sg
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Echodyne to Open Major New Manufacturing Facility to Meet Rapidly Growing Global Demand11.2.2026 14:00:00 EET | Press release
Echodyne, the radar platform company, today announces a major near-term expansion in its advanced radar production capacity. Echodyne’s new 86,350-square-foot facility will provide enough manufacturing and warehouse space to produce and ship more than 30,000 radars per year. The company’s modular manufacturing approach allows production capacity to flex to match varying demand across product lines as well as seamlessly introducing new product lines and capabilities. The investment reflects Echodyne’s continued commitment to: enhancing security and safety as UxS become ubiquitous on the battlefield and in society in general, staying ahead of the accelerating demand in the U.S. and in Allied countries around the globe, and strengthening America’s defense industrial base. Counter-UAS (C-UAS), beyond visual line of sight (BVLOS) operations for drone-as-first-responders (DFR), force protection, border security, and on-the-move (OTM) are among the applications and capabilities driving accele
Americhem Recognized Among Top 5% Globally for Sustainability Performance with EcoVadis Gold Rating11.2.2026 14:00:00 EET | Press release
Americhem, a globally recognized designer and manufacturer of custom color masterbatch, functional additives, engineered compounds, and performance technologies, has earned the EcoVadis Gold rating, placing the company among the top 5% of organizations assessed globally for sustainability performance in their sector. EcoVadis is one of the world’s most widely used business sustainability assessment platforms, evaluating companies across Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The Gold rating reflects not only the presence of sustainable policies but also the robustness of management systems, documentation, and implementation practices, as evaluated by EcoVadis across Americhem’s global operations. The EcoVadis Gold rating follows Americhem’s prior Silver ratings in recent years and reflects continued strengthening of environmental stewardship, governance, and management systems across the organization. “This recognition reflects how our teams run the bus
4Moving Biotech Announces the Closing of a €12 Million Financing to Advance a First-in-Class DMOAD in Knee Osteoarthritis11.2.2026 13:30:00 EET | Press release
4Moving Biotech (4MB), a clinical-stage biotechnology company and a spin-off of 4P-Pharma, developing a first-in-class disease-modifying osteoarthritis drug (DMOAD) for knee osteoarthritis, today announced the closing of a €12 million financing, completed through a structured and coordinated funding process. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260209500141/en/ Francis Berenbaum (Left) Luc Boblet, Revital Rattenbach, Jérôme Vailland (Right) This financing was secured from a pool of private investors and family offices, who chose to reinforce their commitment by investing directly at the subsidiary level in 4MB. The round includes a combination of equity and loans, reflecting a flexible capital structure aligned with long-term value creation. This closing forms a natural continuum following the €7.6 million France 2030 i-Démo grant announced last year, and the very recent transatlantic extension of the INFLAM-MOTION
Agentic AI Consulting: Sia Accelerates Its Development with More Than 400 Agents on Its Agent Store11.2.2026 13:17:00 EET | Press release
Sia, an international consulting group specializing in strategy, management, and AI, has reached a milestone in its Agentic AI journey. Born in the digital era, the firm now leverages the expertise of more than 3,000 consultants in 19 countries to help organizations scale AI-driven transformation. From GenAI to an Agent Store for All Industries and Functions After unveiling its Generative AI platform to clients in June 2023, the firm announced the launch of its Agent Store in September 2025. Built on a learn-by-design approach, Sia’s Agent Store grew from 50 AI agents to over 400 available for direct consultation, with over a dozen Minimum Viable Products ready for demonstration. Originally introduced as SiaGPT, the platform is now accessible via siagents.ai, reflecting the transition from custom GPTs to fully agentic services. Sia’s AI agents cover a wide range of industries such as Finance, Energy, Public Sector, Healthcare, and Retail and Consumer Goods, and address all corporate fu
BeOne Medicines to Announce Fourth Quarter and Full Year 2025 Financial Results on February 2611.2.2026 13:00:00 EET | Press release
BeOne Medicines Ltd. (NASDAQ: ONC; HKEX: 06160; SSE: 688235), a global oncology company, will report its fourth quarter and full year 2025 financial results on Thursday, February 26, 2026 before the financial markets open. Following the release of the financials, the Company will host a live webcast with management at 8:00 a.m. ET. The live webcast of this event can be accessed from the investors section of the Company’s website at https://ir.beonemedicines.com. To ensure a timely connection, it is recommended that participants register at least 15 minutes prior to the scheduled webcast. An archived webcast will be available on the Company’s website. About BeOne Medicines BeOne Medicines is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more accessible to cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics thro
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom