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.