Hyderabad-based space technology startup, Skyroot Aerospace, has successfully raised Rs 100 crore (approximately $10.75 million) in a recent debt round from BlackRock. This marks the company’s first debt investment for the year 2026.
Skyroot Aerospace’s board has issued 100 non-convertible debentures (NCDs) at a face value of Rs 1 crore each, as detailed in its filing with the Registrar of Companies (RoC). The infusion of funds will be used for various purposes, including issue-related expenses, working capital needs, operational costs, asset acquisitions, and general corporate utilization.
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace specializes in developing small and medium-lift launch vehicles for the global satellite market. The company’s pipeline includes the Vikram series of rockets, such as Vikram-I and Vikram-II, designed to provide on-demand, cost-efficient, and flexible satellite launch services.
In a significant milestone, Skyroot Aerospace became the first private Indian company to successfully launch a rocket into space with its Vikram-S mission in 2022.
The company’s growth trajectory was further bolstered in October 2023 when it secured Rs 225 crore (approximately $27 million) in a pre-Series C funding round led by Temasek. Skyroot Aerospace is currently engaged in discussions to raise $150–200 million (about Rs 1,800 crore) to fuel its upcoming expansion phase, potentially valuing the firm at around $1 billion.
Despite being in the pre-revenue stage as of the end of FY25, Skyroot Aerospace recorded widened losses of Rs 99.70 crore during the year, attributed to ongoing investments in research and development initiatives.
Source: Entrackr : Latest Posts