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<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s leading private space-tech company, Skyroot Aerospace has raised an additional $27.5 million, equivalent to ₹225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore. The present capital infusion builds upon the company's previous raise in 2022, bringing its total funding to USD 95 million, which is the largest ever for an Indian Space-tech startup. Skyroot plans to utilize the newly acquired capital to drive its next phase of growth through increased investments in infrastructure, reinforcement of its technology leadership, attraction of top-tier talent, and the enhancement of its launch frequency and capabilities, all while maintaining a lean and agile core team, the Hyderabad-headquartered company said in a statement. Founded in 2018 by space scientists-turned-space entrepreneurs, <keyword id="6364836" type="General" weightage="80" keywordseo="pawan-kumar" source="Orion">Pawan Kumar</keyword> Chandana and <keyword id="7537906" type="General" weightage="80" keywordseo="naga-bharath-daka" source="Orion">Naga Bharath Daka</keyword>, Skyroot is the country's leading private space launch vehicle company. In November 2022, it successfully launched India's and South Asia's first, and till date the only, privately developed rocket, marking Indian private space sector's entry into the space launch market. As the leading player in small and medium space launch vehicle designing and building in India's private sector, the company offers on-demand, cost-effective, reliable and regular space launch services to the fast-expanding global small and medium-sized satellite market, with satellite operators who look to deploy single or constellations of satellites across orbits as its customers. Skyroot was the first startup to sign a memorandum of understanding (MoU) with the <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO). The collaboration grants Skyroot access to ISRO's cutting-edge facilities and unparalleled expertise. Skyroot is poised to transform space launch capabilities of the country with its Vikram series of rockets, specially designed to deploy small and medium-sized satellites into space efficiently and reliably. "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. India's successful moon landing mission has reignited global interest in India's space prowess. As a key player in India's private space industry, we are amplifying our capabilities to tap into the expanding global satellite launch market with a goal to emerge as a favourite 'go-to' choice in space launch services for small satellites," said Pawan Kumar. Bharath Daka said this fund-raise would help the company to invest in the enhancement of production infrastructure, R&amp;D and team strength. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank">From the new Renault Duster to Tata Punch EV, upcoming cars launching in India this November</a> <a href="https://www.businessinsider.in/tech/news/delhi-woman-loses-50-lakh-in-sim-swap-scam-heres-how-you-can-stay-safe/articleshow/104745898.cms">Delhi woman loses ₹50 lakh in SIM Swap scam – Here’s how you can stay safe</a> <a href="https://www.businessinsider.in/tech/news/x-starts-rolling-out-audio-and-video-calls-heres-everything-you-need-to-know/articleshow/104716334.cms">X starts rolling out audio and video calls – here’s everything you need to know</a>

Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

<ul><li><keyword id="9750118" type="General" weightage="100" keywordseo="skyroot" source="Orion">Skyroot</keyword> is developing India’s first privately developed space launch vehicle. </li><li>Skyroot’s marquee investors include Myntra and CultFit founder Mukesh Bansal, Greenko Group founders – Anil Chalamalasetty and Mahesh Kolli, and Google board member <keyword id="17786" type="General" weightage="50" keywordseo="ram" source="Orion">Ram</keyword> Shriram’s <keyword id="272926" type="General" weightage="50" keywordseo="sherpalo-ventures" source="Orion">Sherpalo Ventures</keyword>. </li><li>The Indian-tech startup has an MoU with the Indian Space Research Organisation for sharing facilities and expertise. </li></ul><keyword id="7537495" type="General" weightage="50" keywordseo="skyroot-aerospace" source="Orion">Skyroot Aerospace</keyword>, a four-year-old space tech startup, has raised $51 million in a Series-B financing round. The company claims this is the biggest funding round ever in the Indian space-tech sector. The funding round was led by GIC, a leading global investment firm headquartered in Singapore. Skyroot will use the funds to expand its space engineering team, which currently has close to 200 employees. The funding would also help the company get to full-fledged commercial satellite launch scale within a year from now, said Naga Bharath Daka, co-founder and COO of Skyroot. It has started booking payload slots for its upcoming launches, he added. Skyroot said it is developing India’s first privately developed space launch vehicle, named after the founder of India’s space program, Dr. <keyword id="29151" type="General" weightage="50" keywordseo="vikram-sarabhai" source="Orion">Vikram Sarabhai</keyword>. The Vikram Series rockets are built with an all-carbon-fibre structure, and can launch upto 800 kg of payloads to Low Earth Orbit (LEO), the company said. Skyroot is the first startup to sign an MoU with the Indian Space Research Organisation (ISRO) for sharing facilities and expertise. “Our objective is to establish ourselves as a provider of best-in-class rocket launch services and the go-to destination for affordable and reliable small satellite launches.” said Pawan Kumar Chandana, co-founder and CEO of Skyroot. Rothschild &amp; Co India were the financial advisors for this funding round. Skyroot’s investors include Myntra and CultFit founder Mukesh Bansal, Greenko Group founders – Anil Chalamalasetty &amp; Mahesh Kolli, <keyword id="2644063" type="General" weightage="50" keywordseo="solar-industries-india-limited" source="Orion">Solar Industries India Limited</keyword>, Google board member Ram Shriram’s Sherpalo Ventures, Neeraj Arora (Former-WhatsApp Global Business Chief) and <keyword id="12050422" type="General" weightage="50" keywordseo="wami-capital" source="Orion">Wami Capital</keyword>. Mayank Rawat, managing director of GIC India Direct Investment Group, will be joining Skyroot’s board. According to a <a href="https://www.fortunebusinessinsights.com/industry-reports/space-launch-services-market-101931">report</a>, 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%. SEEL ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/meesho-expects-4x-jump-in-small-business-participation-this-festive-season/articleshow/94001329.cms">Meesho expects 4X jump in small business participation this festive season</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/cyrus-mistry-vs-tata-group-decoding-the-battle-of-prestige-between-indias-most-prominent-parsi-families/articleshow/94000771.cms">Cyrus Mistry vs Tata Group – decoding the battle of prestige between India’s most prominent Parsi families</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/the-great-indian-festival-of-hiring-e-commerce-companies-gear-up-for-indias-shoppers/articleshow/94000346.cms">The great Indian festival of hiring: E-commerce companies gear up for India’s shoppers</a>

Indian space tech startup Skyroot Aerospace raises $51 million in GIC-led funding round

<ul><li>Cryogenic rocket engines run on propellant that can be stored at extremely low temperatures of less than -150° celsius.</li><li><keyword id="7537495" type="General" weightage="20" keywordseo="Skyroot-Aerospace" source="Orion">Skyroot Aerospace</keyword> is the first Indian companies to work with <keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword>.</li><li>The company is currently in talks to raise $40 million funding from new and existing investors.</li><li><keyword id="9750118" type="General" weightage="20" keywordseo="skyroot" source="Orion">Skyroot</keyword> was founded by former ISRO scientists <keyword id="7537908" type="General" weightage="20" keywordseo="Pawan-Kumar-Chandana" source="Orion">Pawan Kumar Chandana</keyword> and Naga Bharath Daka.</li></ul>Indian space startup Skyroot Aerospace is in talks to raise $40 million from both new and existing investors in the Indian startup ecosystem, in order to fund its commercial operations that are scheduled to launch next year. The company has previously raised<a href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms"> $11 million in Series A</a> round, which is the biggest funding round announced by any Indian spacetech startup. Its rival Agnikul had also announced its<a href="https://inc42.com/buzz/spacetech-startup-agnikul-raises-11-mn-to-take-next-step-in-satellite-innovation/"> $11 million</a> funding round the same date. Skyroot is backed by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Other notable investors also include former WhatsApp global business chief Neeraj Arora, Graph Ventures, and Worldquant Ventures. The company had also raised over ₹10 crore from Mukesh Bansal, who had founded Myntra (bought by Flipkart) and Cure.fit, back in 2018. The company’s previous fundraise of $11 million will be used by Skyroot to complete development of its satellite launch vehicle by mid next year. When asked about the planned $40 million funding, Pawan Kumar Chandana, cofounder and chief executive of Skyroot, told Business Insider, “New capital [is] to ramp up production for commercial launches in 2022 and 2023.” Testing India's first cryogenic rocket engine by a private company The journey of Skyroot Aerospace has been of many firsts. It is the first <a href="https://m.economictimes.com/tech/startups/skyroot-aerospace-first-spacetech-startup-to-formally-sign-up-with-isro/articleshow/86118177.cms" data-type="tilCustomLink">private companies </a>to formally work with the Indian Space Research Organisation (ISRO) to test and qualify its small rocket, capable of lifting up to 2,000 kilograms. The company — founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka in 2018 — has added another feather to its cap. Skyroot Aerospace is now the first Indian private aerospace company to successfully test a fully cryogenic rocket engine, named Dhawan-1 in honour of eminent Indian scientist Satish Dhawan. The engine runs on two high-performance rocket propellants (a combination of fuel and oxidiser to move the rocket) — Liquid Natural Gas (LNG) and Liquid Oxygen (LoX). In this case, LNG is the fuel which is mostly made of methane and LoX is the oxidiser, both of these elements mix and produce energy to drive a rocket. <div type="image" title="INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry" msid="87923115" hostid="261" caption="&amp;lt;p&amp;gt;Dhawan-1, Skyroot&amp;#39;s fully cryogenic rocket engine&amp;lt;/p&amp;gt;"></div> These propellants can be stored at extremely low — also known as cryogenic — temperatures of less than -150° celsius. Therefore, it is called a cryogenic engine. Simplifying a cryogenic engine Rockets usually run on liquid hydrogen and kerosene, which have their own issues when dealing with extreme temperatures in space, Skyroot’s chief executive Chandana explained to Business Insider. Hydrogen is difficult to handle, highly inflammable and starts boiling at higher temperature, whereas kerosene freezes sooner. Cryogenic propellants like Methane used in liquid natural gas (LNG) and oxygen used in Liquid Oxygen (LoX) are much more efficient to handle and are cleaner. Therefore, they are the propellent for the future. A team of 20 people at Skyroot have been working on this technology for the last two years, and started manufacturing in October 2020. No company has flown these propellants to space yet, Chandana added. Skyroot’s cryogenic engines are 3D printed, which is reducing the manufacturing time by 95% and increasing efficiency of the engine compared to conventional methods. “Conventional engines have several components welded and limitations on the contours that can be manufactured,” Chandana added. These engines give out higher efficiency compared to a conventional alternative engine, he added. An add-on to boost Skyroot’s in-house developed technology While there is still time for Skyroot to take this technology to space, it is planning to launch its Vikram-1 next year by incorporating it into the company’s in-house orbital vehicle Vikram series to carry small satellites to space. The Vikram Series has three vehicles to its product line. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orbit Vehicle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Feature </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vikram 1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orbit vehicle developed in partnership with ISRO. It will be launched to space by next year. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vikram 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">An upgraded version of Vikram-1, would run on a cryogenic engine. It will improve Skyroot’s capacity to carry satellites to space and the cost decreases. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vikram 3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Would have an add-on booster to further enhance efficiency and capacity of a cryogenic engine. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The company will not be licensing or selling its cryogenic engine technology to any other partners, but will use it to boost its operations. It will partner with other companies that have the capability of manufacturing satellites, mainly in earth observation and communication satellites, and help them launch it to space. <div type="image" title="INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry" msid="87912018" hostid="261" caption="&amp;lt;p&amp;gt;Skyroot&amp;#39;s satellite launch vehicle Vikram Series&amp;lt;/p&amp;gt;"></div> Hyderabad-based Skyroot claims that it will probably be the cheapest satellite launch vehicle in the world. Skyroot, which competes with Agnikul, another Indian space startup, that makes similar claims about pricing and 3D printing of launchers, will charge a customer based on the weight of the satellite. Agnikul, like Skyroot, is also working with ISRO and plans to launch its orbit vehicle to space by next year. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-denies-poor-governance-allegation-by-proxy-advisory-firm-ingovern/articleshow/87910128.cms" data-type="tilCustomLink">Asian Paints denies poor governance allegations by proxy advisory firm Ingovern that triggered its stock</a> <a href="https://www.businessinsider.in/business/corporates/news/latent-view-analytics-looks-to-acquire-small-data-analytics-companies-focused-in-europe-and-us/articleshow/87911242.cms" data-type="tilCustomLink">INTERVIEW: After a blockbuster listing, Latent View Analytics looks to acquire small data analytics companies focused in Europe and US</a> <a href="https://www.businessinsider.in/investment/news/heres-a-quick-look-at-how-the-evolution-of-cryptocurrencies-has-played-out-in-india/slidelist/87902549.cms">India’s crypto regulations have been caught in limbo — here’s how the past decade has played out</a>

INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry

<ul><li>Indian <keyword id="4119607" type="General" weightage="20" keywordseo="space-startup" source="Orion">space startup</keyword> <keyword id="9750118" type="General" weightage="20" keywordseo="skyroot" source="Orion">Skyroot</keyword> Aerospace has raised $4.5 million in a bridge round.</li><li>The round is led by one of the earlier backers of Google, <keyword id="508899" type="General" weightage="20" keywordseo="ram-shriram" source="Orion">Ram Shriram</keyword>, through his VC firm Sherpalo Ventures.</li><li>Skyroot Aerospace had previously announced that it is in talks to raise $40 million.</li></ul>Indian space startup Skyroot Aerospace has raised $4.5 million in a bridge round led by one of the earlier backers of Google, Ram Shriram, through his venture capital (VC) firm Sherpalo Ventures. The bridge round was co-led by Wami Capital, with participation from former WhatsApp executive Neeraj Arora and former Google executive Amit Singhal. A bridge round is an intermediary financing ahead of a larger funding round. “India has long been a leader in rocket launch capability, especially at significantly lower cost. Skyroot takes that technical strength to the next level, with its innovative and cost-effective space launch capability, disrupting the status quo in the global launch market,” said Shriram of Sherpalo Ventures. The company was founded by former Indian Space Research Organisation (ISRO) scientists Pawan Kumar Chandana and Naga Bharath Daka in 2018. Skyroot Aerospace had previously announced that it is in <a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms">talks to raise $40 million </a>in order to fund its commercial operations that are scheduled to launch next year. The company will raise this round with both new and existing investors. The company had announced a<a href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms"> $11 million funding round </a>in the first half of 2021, the same day its rival Agnikul raised the same amount. This was the largest round raised by any Indian <keyword id="6177850" type="General" weightage="20" keywordseo="spacetech" source="Orion">spacetech</keyword> startup. Skyroot is backed by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Other notable investors also include former Graph Ventures, Worldquant Ventures and Mukesh Bansal, who had earlier founded Myntra and Cure.fit. The three-year-old startup is the first Indian private aerospace company to successfully test a fully cryogenic rocket engine named Dhawan-1 in honour of eminent Indian scientist Satish Dhawan. It will not license or sell its cryogenic engine technology to any other partners, but will use it to boost its operations. It will partner with other companies that have the capability of manufacturing satellites, mainly in earth observation and communication satellites, and help them launch it to space. Hyderabad-based Skyroot claims that it will probably be the cheapest satellite launch vehicle in the world. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-cipla-pnb-and-other-hot-stocks-on-january-27-after-us-fed-signals-rate-hikes-from-march/slidelist/89146298.cms">Reliance Industries, Cipla, PNB and other hot stocks on January 27 after US Fed signals rate hikes from March</a> <a href="https://www.businessinsider.in/stock-market/news/how-you-can-check-the-allotment-status-of-ags-transact-technologies-ipo/articleshow/89125068.cms">AGS Transact Technologies IPO: Here’s how you can check the allotment status</a> <a href="https://www.businessinsider.in/stock-market/news/adani-wilmars-issue-opens-today-check-out-the-important-dates-and-details-of-the-ipo/articleshow/89125018.cms">FMCG company Adani Wilmar’s issue opens today — Check out the important dates and details of the IPO</a>

Indian spacetech startup Skyroot has raised over $4 million in a round led by one of Google’s earliest backers

<ul><li><keyword id="7537495" type="COMPANY" weightage="20" keywordseo="Skyroot-Aerospace">Skyroot Aerospace</keyword> has raised $11 million in its series A round of funding. </li><li>The space startup founded by two former ISRO scientists is already taking launch bookings for next year.</li><li>It plans to have its first commercial mission off the ground mid-2022.</li></ul>Indian space startup Skyroot Aerospace has raised $11 million in its series A round of funding. This is nearly 10 times the $1.5 million the rocket building entrepreneurs, Pawan Kumar Chandana and Naga Bharath Daka, raised in 2018. “We intend to raise $40 million more to fund our aggressive growth plans over the next few years,” said Daka, co-founder and chief operating officer (COO) of the Hyderabad-based company. The series A amount will be used for its rocket programme and getting their flagship vehicle, Vikram-1, off the ground. However, Skyroot Aerospace is not the only space startup raking in fresh funding. Chennai-based Agnikul Cosmos also raised $11 million in their Series A round of funding — the largest investment in the space startup scene for both of them after the Indian government opened up the sector to private participation less than a year ago. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Space Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Latest funding </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Pixxel</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agnikul Cosmos </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Skyroot Aerospace </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$ 11million </td></tr></tbody></table> According to Chandana, Skyroot Aerospace’s announcement was long pending but the team was waiting for the COVID-19 situation to become comparatively better. "We had more time for design which helped in optimising our vehicle and resulted in significant cost and time savings," he told Business Insider. Skyroot Aerospace’s Series A was led by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Both of them will now also be on the startup’s board of directors along with <keyword id="291017" type="COMPANY" weightage="20" keywordseo="Solar-Group">Solar Group</keyword>, a major space and defence supplier. Other notable investors also include former WhatsApp global business chief Neeraj Arora, <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> and CureFit founder Mukesh Bansal — who is also the original investor from 2018 — Graph Ventures, and Worldquant Ventures. <cmsannotation type="cmsannotation" annotationid="Indian space startup Skyroot Aerospace has raised $11 million in its series A round of funding. This is nearly 10 times the $1.5 million the rocket building entrepreneurs, Pawan Kumar Chandana and Naga Bharath Daka, raised in 2018. “We intend to raise $40 million more to fund our aggressive growth plans over the next few years,” said Daka, co-founder and chief operating officer (COO) of Skyroot Aerospace. The series A amount will be used for its rocket programme and getting their flagship vehicle -- the Vikram-1 -- off the ground. Skyroot Aerospace is not the only space startup raking in fresh funding. Chennai-based Agnikul Cosmos also raised $11 million in their Series A round of funding — the largest investment in the space startup scene for both of them after the Indian government opened up the sector to private participation less than a year ago. Space Startup Latest funding Amount Pixxel March 2021 $7.3 million Agnikul Cosmos May 2021 $11 million Skyroot Aerospace May 2021 $ 11million According to Chandana, Skyroot Aerospace’s announcement was long pending but the team was waiting for the COVID-19 situation to become comparatively better. &quot;We had more time for design which helped in optimising our vehicle and resulted in significant cost and time savings,&quot; he told Business Insider. Skyroot Aerospace’s Series A was led by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Both of them will now also be on the startup’s board of directors along with Solar Group, a major space and defence supplier. Other notable investors also include former WhatsApp global business chief Neeraj Arora, Myntra and CureFit founder Mukesh Bansal — who is also the original investor from 2018 — Graph Ventures, and Worldquant Ventures. Space technology startups are the next big bet for venture capitalists in India The COVID-19 pandemic and the associated lockdowns were an issue for Agnikul Cosmos. “Due to the COVID-19 situation, there have been a few delays but we are looking to launch our first mission in the second half of next year,” said Srinath Ravichandran, co-founder and chief executive officer (CEO) of Agnikul Cosmos. The startup test-fired the world’s first 3D printed rocket engine Agnilet earlier this year. And it plans on conducting more such tests later this year. Its series A round of funding was led by Mayfield India. Angel investors including Anand Mahindra, Naval Ravikant, Nithin Kamath and Balaji Srinivasan also threw their hat in the ring. The startup had raised $3.1 million in March 2020 in its pre-Series A round of funding." comment="subhead" text="Space technology startups are the next big bet for venture capitalists in India">Space technology startups are the next big bet for venture capitalists in India</cmsannotation> The COVID-19 pandemic and the associated lockdowns were an issue for Agnikul Cosmos. “Due to the COVID-19 situation, there have been a few delays but we are looking to launch our first mission in the second half of next year,” said Srinath Ravichandran, co-founder and chief executive officer (CEO) of Agnikul Cosmos. The startup test-fired the world’s first 3D printed rocket engine Agnilet earlier this year. And it plans on conducting more such tests later this year. Its series A round of funding was led by Mayfield India. Angel investors including Anand Mahindra, Naval Ravikant, Nithin Kamath and Balaji Srinivasan also threw their hat in the ring. The startup had raised $3.1 million in March 2020 in its pre-Series A round of funding. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebooks-mark-zuckerberg-has-six-months-to-answer-these-five-questions/articleshow/82729482.cms">Facebook’s Mark Zuckerberg has six months to answer these five questions</a> <a href="https://www.businessinsider.in/science/news/chinas-mars-rover-has-beamed-back-its-first-images-of-the-red-planet/articleshow/82787550.cms">China's Mars rover has beamed back its first images of the red planet</a>

Skyroot Aerospace raises $11 million in Series A funding with plans to have Vikram-I on the launch pad by mid-2022

<ul><li><keyword id="7537495" type="UNKNOWN" weightage="20" keywordseo="Skyroot-Aerospace">Skyroot Aerospace</keyword> is the first private company in India to successfully test launch a homegrown rocket engine. </li><li>The company’s co-founder <keyword id="7537908" type="UNKNOWN" weightage="20" keywordseo="Pawan-Kumar-Chandana">Pawan Kumar Chandana</keyword> told Business Insider that Skyroot Aerospace is on track to test-launch its first full rocket by December 2021.</li><li>Two more rocket stages will be tested within the next six months.</li></ul>"We will be one of India’s first private launch vehicle makers,” Skyroot Aerospace co-founder Naga Bharath Daka said in <a href="https://m.timesofindia.com/companies/hyderabad-startup-set-to-test-launch-vikram-series-of-rockets/amp_articleshow/69041671.cms">April 2019</a>. One year down the line, the Indian startup is the first private company in India to have successfully launched a homegrown rocket engine. It is not an entire rocket yet, but the company plans to have that off the ground as well by December next year, CEO and co-founder of Skyroot Aerospace Pawan Kumar Chandana told Business Insider. Chandana and Daka are both former Indian Space Research Organisation (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) scientists. In another six months, the company aims to test two more rocket stages. The fourth and final stage will take another year to test. In December 2021, the first rocket will be tested. If it passes the test, Skyroot Aerospace has plans to build an entire family of Vikram rockets to send satellites into space. Successful test of the upper stage rocket engine “It [the rocket] is a three-stage rocket with a small liquid module, which is called the orbit adjustment model. The engines tested today belong to the orbit adjustment model,” Chandana told Business Insider. The upper stage rocket engine powers the final thrusts of a spacecraft as it positions satellites into the Earth’s orbit. Skyroot Aerospace’s upper stage rocket engine is India’s first entirely 3-D printed one. The engine will run on high-performance cryogenic propellants — fuels that require extremely low temperatures to stay liquid — like liquid natural gas (LNG) and liquid oxygen. The reason rockets need cryogenic propellants is that temperatures drop drastically in outer space. Outside the Earth’s atmosphere, there is also a lack of oxygen, so the element’s liquified form helps the fuel combust or burn. One launch, multiple orbits The test of the upper rocket stage demonstrated the capabilities of the orbit adjustment model, also called the 3D-printed bi-propellant liquid rocket engine ejector. It reduced the overall mass of the upper stage by 50%, reduced the total number of components required, and cut down on lead time by 80%. The bigger factor is that it is capable of multiple restarts. This means it can insert different satellites across varied orbits in a single mission. Skyroot Aerospace’s investors include Myntra and CureFit founder Mukesh Bansal, Vendashu Investments, and others. It has raised ₹ 31.5 crore so far and is in the process of bringing in another ₹ 90 crore this year.

India’s first private player to successfully test a homegrown rocket engine is on track for its first full rocket launch by 2021

<ul><li>The <keyword id="10031551" type="UNKNOWN" weightage="20" keywordseo="indian-space-startup">Indian space startup</keyword>, <keyword id="7537495" type="UNKNOWN" weightage="20" keywordseo="Skyroot-Aerospace">Skyroot Aerospace</keyword>, has successfully test-fired its first solid rocket propulsion stage demonstrator called Kalam-5.</li><li>Kalam-5 uses the same propellant, materials, and interface as the motors that will be installed on Vikram-1 — in line to become India’s first privately designed, developed and tested rocket in 2021.</li><li>Skyroot Aerospace is backed by Myntra founder <keyword id="705865" type="PERSON" weightage="20" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> and other angel investors with $4.3 million in the bag and plans to raise another $15 million next year.</li></ul>India’s first-ever privately designed and developed rocket, Vikram-1, is a step closer to becoming a reality. Founded by two former scientists of the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword> (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) — Pawan Kumar Chandana and Naga Bharath Daka — the company behind the rocket, Skyroot Aerospace, has successfully test-fired its first solid rocket propulsion stage demonstrator called Kalam-5. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> Kalam-5 uses the exact same propellant, materials, and interface as the three solid propulsion stages of the Vikram-1 launch vehicle, according to Chandana. It is the first of the five Kalam engines that Skyroot plans to test. "The 'Vikram-1' rocket has three solid fuel-powered stages each with a burn time ranging between 80 and 100 seconds. The full scale solid fuel stage will be tested at the ISRO facility soon. The burn time will be 100 seconds," he said. With this milestone out of the way, the company is on-track to launch its <a href="https://www.businessinsider.in/science/space/news/skyroot-aerospace-successfully-tests-homegrown-rocket-engine-is-on-track-for-its-first-full-rocket-launch-by-2021/articleshow/77506716.cms">first full rocket next year.</a> "We will be signing the non-disclosure agreement with the Department of Space in order to get access to ISRO facilities. The full scale solid fuel stage will be tested at ISRO's rocket port in Sriharikota in Andhra Pradesh," Chandana added. <div type="image" title="3_edited" msid="79989150" hostid="261" caption="&amp;lt;p&amp;gt;Vikram-series of launch vehicles that Skyroot Aerospace plans to develop for India&amp;lt;/p&amp;gt;"></div> Why does the success of Kalam-5 matter? Propulsion systems are where the actual magic happens to get rockets off the planet and into space. If anything goes wrong, infamous results can range from pre-launch explosions to the rocket simply falling out of the sky. Making sure that the propulsion system not only works properly but also provides an adequate thrust to beat gravity is crucial to the success of any rocket. <div type="image" title="2_edited" msid="79989119" hostid="261" caption="&amp;lt;p&amp;gt;Kalam-5 test fired at private facility on December 22 in Nagpur&amp;lt;/p&amp;gt;"></div> Kalam-5 is a solid motor. These are high thrust, low-cost rocket engines with propellant in solid form. In addition to being cost-effective, they are also highly reliable with fewer moving parts. Right now, Kalam-5 gives a peak sea-level thrust of 5.3kN, can handle the pressure of 66 atmospheres and temperatures of up to 30,000 degrees Celsius. It is only one-fourth the size of the solid motor in Vikram 1’s third stage. “Kalam-5 uses 15 different advanced materials, nine different manufacturing processes and has zero moving parts,” Chandana explained. Skyroot is backed by investors like Solar Industries, Vedanshu Investments, and Myntra founder Mukesh Bansal. It has raised $4.3 million till now and is in the process of raising another $15 million in 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/jack-ma-ant-group-asked-to-overhaul-its-business-model-by-china-central-bank/articleshow/79987683.cms">China's central bank wants Jack Ma's Ant Group to overhaul its business model</a> <a href="https://www.businessinsider.in/science/environment/news/top-10-most-expensive-natural-disasters-of-2020-in-the-world/slidelist/79986294.cms">Cyclone Amphan was the most expensive cyclone of 2020 and the fourth most expensive natural disaster overall</a>

India’s first-ever privately designed and developed rocket is a step closer to becoming a reality in 2021

<ul><li><keyword id="10730402" type="UNKNOWN" weightage="20" keywordseo="indian-space-startup-agnikul">Indian space startup Agnikul</keyword> Cosmos has become the world’s first company to successfully test a fully <keyword id="3176690" type="PERSON" weightage="20" keywordseo="3D-printed-rocket-engine">3D printed rocket engine</keyword>.</li><li>It only takes four days to produce and can carry payloads of upto 100 kilos into lower earth orbit (LEO).</li><li>While the first company to be successful in such an endeavour, there are others who are fast catching up and realise the value of 3D printed engines versus conventional assembly.</li></ul>Rocket engines are tough to build, and they’re even tougher to 3D print because all the details have to be ‘just right’ for the rocket to work successfully. But, an <keyword id="10031551" type="UNKNOWN" weightage="20" keywordseo="indian-space-startup">Indian space startup</keyword> based out of Chennai has pulled off this mammothian task. <keyword id="7122982" type="UNKNOWN" weightage="20" keywordseo="agnikul-cosmos">Agnikul Cosmos</keyword> has successfully fired its higher stage semi-cryogenic <keyword id="413298" type="PERSON" weightage="20" keywordseo="Rocket-engine">rocket engine</keyword> called Agnilet. “This entire engine, Agnilet, is just one piece of hardware from start to finish and has zero assembled parts,” said co-founder and CEO Srinath Ravichandran. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> Normally, rocket engines have 100s of different parts that have to be built individually. This includes things like injectors which inject fuel into the engine, cooling channels that ensure the engine doesn’t overheat and the igniter which actually kindles propellants to push the rocket off the ground. Agnilet, on the other hand, is a three-in-one solution. It takes all three of these modules and puts them into a single piece of hardware. There is no complex assembly and the turnaround time for the entire setup is less than four days. The rocket engine is capable of carrying upto 100 kilos to low earth orbit (LEO), which is around 700 kilometers above the Earth’s surface. That’s only a fraction of what the Polar Satellite Launch Vehicle (PSLV) is capable of and possibly only enough to carry a single satellite at most. Agnikul may be the first to be successful, but it’s not alone Agnikul was the first <keyword id="3081463" type="COMPANY" weightage="20" keywordseo="Indian-space">Indian space</keyword> startup to enter into a non-disclosure agreement (NDA) with the Department of Space (DoS) under the newly established Indian National Space Promotion and Authorisation Centre (IN-SPACe). <div type="image" title="Agnilet - Agnibaan’s higher stage semicryogenic engine(1)" msid="80763882" hostid="261" caption="&amp;lt;p&amp;gt;Agnilet - Agnibaan’s higher stage semicryogenic engine&amp;lt;/p&amp;gt;"></div> Another space startup that’s hot its heels is Hyderabad-based Skyroot Aerospace founded by former Indian Space Research Organisation (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) scientists Pawan Kumar Chandana and Naga Bharath Daka. In September last year, they too revealed their fully 3D printer cryogenic rocket engine dubbed Dhawan-I. Dhawan-I will be used to power the Vikram-II rocket, which Skyroot is also building from scratch. The startup entered an NDA with the DoS earlier this month on February 2. They will be able to use ISRO’s test and launch facilities to test their Vikram-I rocket and eventually Dhawan-I as well. The global space industry is expected to generate $1.1 trillion or more by 2040, according to <a href="https://www.morganstanley.com/ideas/investing-in-space">Morgan Stanley</a> — more than triple its current value of $350 billion. And, new space engine technology like 3D printed rocket engines are expected to play a big role in this explosion of value. But even international players like Elon Musk’s SpaceX, the National Aeronautics and Space Administration (NASA), <a href="https://3dprint.com/278184/startup-accelerator-ursa-major-is-3d-printing-rocket-engines-to-grow-space-economy/">Ursa Major</a> and Jeff Bezos’ Blue Origin are only 3D printing components for rocket engines. This means that putting together these engines and making sure they work is still a fairly complicated task. The only US-based startup close to producing a fully 3D printed rocket engine is <a href="https://manufactur3dmag.com/firehawk-aerospace-raises-2-million-for-3d-printed-rocket-engines/">Firehawk Aerospace</a>, and they only just raised the $2 million needed to start on their project. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/meet-the-lawyer-turned-fitness-entrepreneur-who-is-training-alia-bhatt-ranbir-kapoor-kiara-advani-among-others/articleshow/80761071.cms">Meet the lawyer-turned-fitness entrepreneur who is training Alia Bhatt, Ranbir Kapoor, Kiara Advani among others</a> <a href="https://www.businessinsider.in/international/news/joe-biden-and-narendra-modi-spoke-over-the-phone-last-night-heres-what-they-discussed/articleshow/80759960.cms">Joe Biden and Narendra Modi spoke over the phone last night⁠— here’s what they discussed</a> <a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-it-veteran-making-a-comeback-as-tech-mahindras-cfo/articleshow/80708957.cms">Meet the 63-year old making a comeback as Tech Mahindra's CFO</a>

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Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

IANS

Indian space tech startup Skyroot Aerospace raises $51 million in GIC-led funding round

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INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry

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Indian spacetech startup Skyroot has raised over $4 million in a round led by one of Google’s earliest backers

Kritti Bhalla

Skyroot Aerospace raises $11 million in Series A funding with plans to have Vikram-I on the launch pad by mid-2022

Prabhjote Gill

India’s first private player to successfully test a homegrown rocket engine is on track for its first full rocket launch by 2021

Prabhjote Gill

India’s first-ever privately designed and developed rocket is a step closer to becoming a reality in 2021

Prabhjote Gill

Indian space startup fires world’s first fully 3D printed rocket engine as others play catch up

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