Skyroot Aerospace Plans to Double Launches as India's Private Space Sector Soars

Hyderabad, India — Skyroot Aerospace, a Hyderabad-based startup, made history last year by becoming the first private company in India to successfully launch the Vikram-S rocket into space. Now, the ambitious company is gearing up for its next mission, with plans to double its launches starting next year. This move comes as the Indian private space sector is set to receive a significant boost following the success of the Chandrayaan-3 moon mission.

Skyroot Aerospace, founded by rocket engineer Pawan Chandana and software engineer Bharath Daka, both alumni of the prestigious Indian Institutes of Technology (IIT), is making waves in the space industry. After working at the Indian Space Research Organisation (ISRO) for several years, the duo decided to embark on their entrepreneurial journey in 2018.

The catalyst for their venture was the Indian government's release of the Draft Space Activities Bill in 2017, which opened up opportunities for private companies to enter the space race. This groundbreaking announcement sparked the entrepreneurial spirit of scientists across India, leading to a wave of space startups and CEOs emerging from the scientific community.

"We saw the immense potential in India's growing space industry, especially with the government's supportive policies," said Pawan Chandana, co-founder of Skyroot Aerospace.

Skyroot Aerospace conducted India's inaugural private rocket launch, marking a significant milestone in the country's space endeavors. The startup's primary goal is to reduce the cost of satellite launches, a crucial factor in an industry that is becoming increasingly competitive as companies rush to build networks for providing broadband services, which depend on small satellite launches.

Chandana stated that the company plans to expand its current workforce of 280 employees by an additional 20 percent over the next two years to accommodate the expected surge in launch activities.

In terms of funding, Skyroot Aerospace is eyeing a fundraising round in 2024. This effort will follow their previous successful funding round, which raised $51 million and was led by GIC, a prominent sovereign wealth fund based in Singapore. While Chandana did not provide specific details about the upcoming funding round, he expressed confidence in the company's current financial stability.

"We're well funded for now. So, the next significant fundraising round, which we anticipate as the Series C round, is likely to take place towards the end of 2024," Chandana affirmed.

One notable aspect of Skyroot Aerospace's endeavors is its choice to name its launch vehicles after Dr. Vikram Sarabhai, a distinguished scientist widely regarded as the founding father of the Indian space program. This gesture pays homage to Sarabhai's pioneering contributions to India's space exploration efforts.

As the Indian private space sector continues to gain momentum and innovation, Skyroot Aerospace's ambitions exemplify the nation's growing prowess in space technology and its commitment to exploring the cosmos.

*Disclaimer: The information provided in this article is based on publicly available sources as of the knowledge cutoff date in September 2021. Any developments or changes that may have occurred after this date are not included in this article.*