PE-VC Fund Investments
Swiggy co-founders invest Rs.10-Cr in spacetech co. Skyroot’s Pre-Series C2 round
Hyderabad-based space-tech startup Skyroot Aerospace has raised funding from Swiggy cofounder and group chief executive Sriharsha Majety and former cofounder Nandan Reddy. Each individual invested INR 4.99-Cr in the company's ongoing pre-series C2 funding round. The transaction was conducted through the acquisition of 202 compulsorily convertible preference shares each. The funding round values the company at $1.25-B post-money.Founded in 2018, Skyroot Aerospace is a space technology company that develops lightweight and modular rockets designed for the deployment of small satellites in low-earth orbits. The company intends to utilize its indigenous Vikram rocket for its first commercial launch scheduled for later this fiscal year.
Between Jun 2021 and May 2026, Skyroot Aerospace had attracted about USD 170 M from Arkam Ventures, GIC, MABS Family Office, Playbook Partners, Sherpalo Ventures, GIC, LN Mittal India Internet Ventures, Temasek and others.For FY25, Skyroot Aerospace had reported INR 100 Cr in Net loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
