Skyroot: Spacetech company Skyroot Aerospace received funding of $27.5 million from Temasek, this is the plan

Spacetech company Skyroot Aerospace on Monday said it has raised $27.5 million in a pre-Series C funding round led by Singapore government-owned global investment firm Temasek. The startup plans to use the newly acquired capital to build out its infrastructure and technology, attract talent, and scale its launch and capabilities.

The latest investment takes the total funding raised by the company to $95 million. The Hyderabad-headquartered startup, founded in 2018 by space scientists Pawan Kumar Chandna and Naga Bharat Dhaka, designs and manufactures small and medium-sized space launch vehicles. In November 2022, it successfully launched a privately developed rocket. This was the first such launch in India and South Asia.

The company serves the global small and medium-sized satellite market, particularly satellite operators who wish to deploy single or constellations of other satellites into orbit. Chandana, co-founder and CEO of Skyroot, said, “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. On October 24, Skyroot Aerospace unveiled Vikram-1, a small launch vehicle designed to launch small satellites into orbit, with the capacity to place about 300 kg of payload in orbit.