Skyroot Aerospace has made history with the successful launch of Vikram-1, India's first privately developed orbital rocket, from the Satish Dhawan Space Centre in Sriharikota. This milestone under Mission Aagaman not only propels India's private space sector but has also generated substantial wealth for a diverse group of early investors who backed the company's vision.
The Rise of India's Private Space Sector
Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace quickly emerged as a leader in India’s burgeoning private space ecosystem. The four-stage, 22-meter Vikram-1 launch vehicle successfully placed multiple payloads into a 450-km Low Earth Orbit. This achievement makes India only the third country globally where a private entity has independently developed and launched an orbital-class rocket.
Who Profited: Key Investors Revealed
Skyroot's rapid valuation growth and successful launches have transformed initial investments into one of the country’s most compelling deep-tech success stories. A range of backers, from individual entrepreneurs to family offices and large investment firms, have reaped considerable returns.
Mukesh Bansal: The Early Believer
One of the most significant beneficiaries is Mukesh Bansal, founder of Myntra and Cult.fit. Bansal began investing in Skyroot during its first angel round in July 2018, when the startup was valued at just $4.79 million. His continued support through subsequent angel, seed, and Series A rounds made him a consistent early backer. Following Skyroot’s latest valuation of $1.1 billion, the value of Bansal’s initial investment, totaling approximately ₹12 crore, has surged to nearly ₹700 crore, delivering an impressive 60x return over eight years.
Haldiram's Nagpur Joins the Flight
The renowned snack food company, Haldiram's Nagpur, joined Skyroot’s cap table in January 2022. They participated in a $4.5 million Series B funding round led by Sherpalo Ventures, alongside other investors such as WAMI Capital, Neeraj Arora, Amit Singhal, and Vevek Venture Investments.
Lakshmi Mittal's LNM India Internet Ventures
In August 2022, Skyroot raised $51 million in another Series B round, led by GIC, which pushed its valuation to $164 million. During this round, LNM India Internet Ventures, founded by Lakshmi Niwas Mittal (Executive Chairman of ArcelorMittal), also became an investor. LNM India Internet Ventures further participated in an October 2023 funding round of $27.5 million, led by Temasek, which saw Skyroot's valuation climb to $519 million.
Unicorn Status Attracts More Big Names
Skyroot Aerospace officially achieved unicorn status in May 2026 after securing $50 million in a Series C round co-led by Sherpalo Ventures and GIC, bringing its valuation to $1.1 billion. This landmark round attracted several prominent investors, including the Shanghvi Family Office (Shanghvi Group), Arkam Ventures, and Playbook Partners. Earlier in 2026, the company also secured $10.8 million in conventional debt funding from BlackRock, underscoring its broad appeal and financial stability.
Skyroot Aerospace's journey from a startup founded by former ISRO scientists to India's first private space unicorn highlights the immense potential and growing investor confidence in the country's deep-tech and private space industries.