Total amount raised
$95.1 Million
Latest funding date
10/1/2023
Location
Skyroot Aerospace has successfully navigated through seven funding rounds, with the latest being a Series C round led by Temasek Holdings. The company is backed by a total of 17 investors, including notable names like Temasek Holdings and LNM India Internet Ventures.
Keep reading to explore the intricacies of Skyroot Aerospace's fundraising journey and the investors backing this innovative aerospace manufacturer and launch service provider.
What Is Skyroot Aerospace?
Skyroot Aerospace, based in Hyderabad, Telangana, India, is a private aerospace manufacturer and launch service provider. The company focuses on developing launch vehicles for cost-effective access to space and is involved in industries such as aerospace, commercial space travel, and transportation.
With a workforce of 251-500 employees, Skyroot Aerospace aims to make space accessible through on-demand launch vehicles. Their key products include the Vikram-I and Vikram-II launch vehicles, which are set to launch in 2026. The company has raised funding through multiple rounds, with the latest being a Series C round.
How Much Funding Has Skyroot Aerospace Raised?
- Seed Round
- Amount Raised: $1,500,000
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their launch vehicles and establish initial operations.
- Grant
- Amount Raised: INR 500,000
- Date: October 2020
- Lead Investors: Department for Promotion of Industry and Internal Trade (DPIIT)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development activities.
- Series A
- Amount Raised: $11,000,000
- Date: May 2021
- Lead Investors: Anil Chalamalasetty, Mahesh Kolli
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up the development of their launch vehicles and expand their team.
- Convertible Note
- Amount Raised: $4,500,000
- Date: January 2022
- Lead Investors: Sherpalo Ventures, Wami Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bridge the funding gap before the next major funding round and continue technological advancements.
- Grant
- Amount Raised: INR 5,000,000
- Date: August 2022
- Lead Investors: ANIC-ARISE
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific research projects and technological innovations.
- Series B
- Amount Raised: $51,000,000
- Date: September 2022
- Lead Investors: Waverly
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of their launch vehicles and prepare for commercial launches.
- Series C
- Amount Raised: $27,500,000
- Date: October 2023
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate upcoming launches, increase investments in infrastructure, and enhance launch frequency and capabilities.
Total Amount Raised: $95,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It led the Series C funding round for Skyroot Aerospace.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, DBS Bank, Singapore Airlines.
- Waverly
- Details: Waverly is an investment firm that participated in Skyroot Aerospace's Series B funding round. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- ANIC-ARISE
- Details: ANIC-ARISE is an initiative that supports research and innovation in the aerospace sector. It provided a grant to Skyroot Aerospace in August 2022.
- Investment Focus Areas: Aerospace, research, innovation.
- Notable Investments: Not publicly disclosed.
- Sherpalo Ventures
- Details: Sherpalo Ventures is a venture capital firm that invests in early-stage technology companies. It participated in Skyroot Aerospace's convertible note round in January 2022.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Wami Capital
- Details: Wami Capital is an investment firm that focuses on high-growth companies. It was one of the key investors in Skyroot Aerospace's convertible note round.
- Investment Focus Areas: High-growth companies, technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Skyroot Aerospace?
Skyroot Aerospace is poised to capitalize on the burgeoning market for small and medium-sized satellite launches. With the global market projected to grow significantly, the company is well-positioned to offer cost-effective and reliable launch services. Their collaboration with ISRO and international firms like Prométhée Earth Intelligence enhances their technological capabilities and market reach.
Future fundraising opportunities look promising, given the strong investor confidence demonstrated by the recent pre-Series C round led by Temasek. As Skyroot accelerates its launch schedule and expands its infrastructure, additional funding rounds are likely to follow, further bolstering their growth trajectory.
However, the path ahead is not without challenges. Skyroot will need to navigate intense competition from other private space firms and manage the technical and logistical complexities of increasing launch frequency. Ensuring cost-effectiveness while scaling operations will be crucial to maintaining their competitive edge in the rapidly evolving aerospace industry.
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