Space tech startup Skyroot to raise $40-M

Space technology startup Skyroot Aerospace plans to raise USD 40 million (around INR 300 crore) next year to support its growth and satellite launch solutions in 2022. Founded in 2018 by former ISRO rocket scientists, the Hyderabad-based company is planning to double its workforce by next year and has started hiring people for middle to senior-level positions. The company had raised USD 11 million earlier in 2021 led by Greenko Group founders Anil Chalamalasetty and Mahesh Kolli. Publicly listed Solar Group, former-WhatsApp senior executive and Paytm board member Neeraj Arora, Myntra and Curefit founder Mukesh Bansal and Sutton Capital also participated in the round.