Debt financing
Launch vehicle builder for satellites Skyroot Aerospace raises Rs.100-Cr from BlackRock
Hyderabad-based Skyroot Aerospace has raised INR 100 crore in a debt round from global investment manager BlackRock. Skyroot Aerospace issued 100 non-convertible debentures (NCDs), each with a face value of INR 1 crore.Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace builds small and medium-lift launch vehicles for the global satellite market. The company intends to use the proceeds for issue-related expenses; working capital requirements, including operational costs; and acquisition of fixed assets.
Between Jun 2021 and Aug 2024, Skyroot had attracted about USD 99 M from Arkam Ventures, GIC, LN Mittal India Internet Ventures, Temasek, Sherpalo Ventures, Graph Ventures, Worldquant Ventures, and others.For FY25, Skyroot Aerospace had reported about INR 99.84 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
