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ISRO

Hyderabad, India: Hyderabad-based Skyroot Aerospace has become India’s first space-tech unicorn after raising $60 million in a major funding round led by Sherpalo Ventures and Singapore sovereign wealth fund GIC, marking a defining moment for the country’s rapidly expanding private space sector. The funding round pushed the company’s valuation to approximately $1.1 billion, making it the first Indian private space startup to cross the unicorn threshold. The round saw participation from funds managed by BlackRock, founders of Greenko Group, Arkam Ventures, Playbook Partners, Shanghvi Family Office and several existing investors. With this latest infusion, Skyroot’s total funding has climbed to nearly $160 million since its founding in 2018. The company said the fresh capital will be used to increase launch frequency, expand manufacturing capacity, accelerate development of its heavier-lift Vikram-2 rocket and strengthen its commercial launch operations globally. Founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot emerged from Hyderabad’s growing deep-tech ecosystem and became one of the earliest startups incubated at T-Hub. The company was established shortly after the Indian government opened the space sector to private participation in 2020, enabling startups to access ISRO facilities and infrastructure. Skyroot later became the first private Indian company to formally sign an agreement with ISRO for testing and launch support. Skyroot first entered global headlines in November 2022 after successfully launching Vikram-S, India’s first privately developed rocket to reach space. The suborbital mission, named “Mission Prarambh,” was launched from Sriharikota and reached an apogee of nearly 89.5 kilometres, establishing the company as a pioneer in India’s commercial launch industry. The company is now preparing for the maiden orbital launch of Vikram-1, which is expected to become India’s first privately developed orbital launch vehicle. Skyroot has positioned the Vikram series as low-cost, rapidly deployable launch systems designed primarily for the growing global small satellite market. According to the company, the Vikram rockets incorporate extensive use of carbon composite structures, modular architecture and 3D-printed engines to reduce manufacturing timelines and operational costs. Skyroot has repeatedly stated that its long-term objective is to make space launches as reliable, regular and affordable as commercial aviation. Sherpalo Ventures founder Ram Shriram, one of Silicon Valley’s most prominent early technology investors and an early Google backer, is expected to join Skyroot’s board following the investment. Sherpalo had previously invested in the company during earlier funding rounds as well. Skyroot’s rise also reflects Hyderabad’s emergence as a major aerospace and defence innovation hub. Telangana leaders, including former IT minister KT Rama Rao, described the milestone as a validation of the state’s long-term focus on innovation infrastructure and deep-tech incubation through platforms such as T-Hub and T-Works. In recent years, Skyroot has significantly expanded its infrastructure footprint. In 2023, the company unveiled “MAX-Q,” described as India’s largest private integrated rocket development facility near Hyderabad’s Rajiv Gandhi International Airport. The company has also signed agreements with the Telangana government to establish integrated private rocket manufacturing, integration and testing facilities in the state. The startup has additionally developed multiple propulsion technologies under its “Kalam” engine series, named after former President and aerospace scientist APJ Abdul Kalam. Among its milestones were successful tests of the Kalam-5 and Kalam-100 rocket motors, both intended for use in the Vikram launch vehicles. The company has claimed these systems represent some of the largest privately developed rocket stages tested in India. Skyroot’s unicorn milestone comes amid growing momentum in India’s private spacetech sector, with companies such as Agnikul Cosmos, Pixxel, Bellatrix Aerospace and Dhruva Space also attracting increasing investor interest and international partnerships. Analysts believe the country’s lower launch costs, engineering talent base and expanding satellite market position India as a major future player in the global commercial space industry. Chief executive Pawan Kumar Chandana recently said global demand for satellite launches and international customers would become a major long-term revenue driver for the company as commercial launch requirements continue rising worldwide.

Skyroot Aerospace Becomes India’s First Space-Tech Unicorn After $60 Million Funding Round

Aviation Today News Desk / May 16, 2026

Hyderabad, India: Hyderabad-based Skyroot Aerospace has become India’s first space-tech unicorn after raising $60 million in a major funding round

Parliamentary Panel Flags Undervalued Transfer Of ISRO Technologies To Private Firms SEO DES: The panel flagged some ISRO tech transfers were free, highlighted underutilised budgets and noted 2,383 staff vacancies across the department SOCIAL: A Parliamentary panel flagged that the Indian Space Research Organisation has transferred several technologies to private firms at very low prices, with nearly 70 out of ~100 deals under ₹10 lakh($10,650 USD) and some as low as ₹6,000($64 USD) or free. The committee cited the lack of a proper pricing framework and urged market-linked valuation and stronger oversight. It also showcased underutilised budgets and 2,383 staff vacancies, warning that India risks undervaluing taxpayer-funded space technologies while expanding private sector participation. New Delhi, India: A Parliamentary Standing Committee has raised concerns over the pricing of technologies developed by the Indian Space Research Organisation (ISRO), stating that several transfers to private companies have been executed at rates that do not reflect their true commercial value, potentially limiting returns on publicly funded innovation. The observations were made in the 410th report of the Department-related Parliamentary Standing Committee on Science and Technology, Environment, Forests and Climate Change, tabled in Parliament on March 25, 2026. The panel examined the functioning, financial management, and commercialisation practices of the Department of Space. The committee noted that ISRO has signed around 100 technology transfer agreements with private entities in recent years. However, a significant portion of these deals were executed at relatively low prices. According to data reviewed by the panel, nearly 70 technologies were transferred for less than ₹10 lakh($10,650 USD), with some agreements reportedly priced as low as ₹6,000($64 USD) or offered free of cost. The panel flagged that such pricing structures raise concerns about whether the government is adequately monetising high-value research and development outputs. Highlighting systemic gaps, the committee observed that there is currently no standardised valuation framework or market-linked pricing mechanism governing these transfers. This lack of structured pricing has resulted in inconsistencies across agreements and increases the risk of undervaluation. The panel cautioned that private firms could potentially generate significant commercial gains using these technologies, while public institutions receive only limited financial returns. The report recommended the introduction of a market-driven pricing model, along with transparent valuation guidelines and independent auditing mechanisms to ensure fairness and accountability. It also called for stronger post-transfer monitoring systems to assess how transferred technologies are utilised and whether they deliver broader public benefit. Beyond technology transfer concerns, the committee highlighted issues related to budget allocation and utilisation within the Department of Space. For the financial year 2026–27, the department projected an outlay of ₹15,604.80 crore($1.66 billion USD), of which the government approved ₹13,705.63 crore($1.46 billion USD), or 87.82% of the proposed amount. The panel noted that budgetary allocations have been impacted by underutilisation in previous years. As of January 2026, the Department of Space had utilised ₹9,739.72 crore($1.04 billion USD) out of the allocated funds for the ongoing financial year 2025–26, indicating slower expenditure progress. Several institutions under the department reportedly failed to utilise even 75% of their allocated budgets, prompting the committee to call for stricter financial oversight and periodic expenditure reviews. The report also pointed to a persistent shortage of human resources within the department. Vacancies have been accumulating since 2020–21, and the government has set a target to fill 2,383 vacant positions by December 2026. The panel emphasised that addressing staffing gaps is essential for sustaining mission timelines and operational efficiency. While acknowledging India’s push to expand private participation in the space sector, the committee stressed the need to strike a balance between ecosystem development and safeguarding the value of taxpayer-funded innovations. It noted that ISRO’s technologies play a critical role in national infrastructure, communications, and strategic capabilities, making their fair valuation and controlled commercialisation a matter of national importance. The findings come at a time when India is actively opening its space sector to private players through institutional mechanisms such as NewSpace India Limited and IN-SPACe, aimed at promoting industry participation and accelerating growth. The committee concluded that without reforms in pricing, monitoring, and financial management, India risks undervaluing critical space technologies even as it seeks to build a globally competitive private space ecosystem.

Parliamentary Panel Flags Undervalued Transfer Of ISRO Technologies To Private Firms

Aviation Today News Desk / March 30, 2026

New Delhi, India: A Parliamentary Standing Committee has raised concerns over the pricing of technologies developed by the Indian Space

India: Dr. V. Narayanan has been appointed as the new Chairman of the Indian Space Research Organization (ISRO) and Secretary of the Department of Space by the Indian government. He will follow S. Somanath and will serve for two years beginning January 14, 2025 | Aviation Today

Dr. V. Narayanan Appointed as New ISRO Chief: To Lead India’s Ambitious Space Missions

Aviation Today News Desk / January 8, 2025

Picture credits: X India: Dr. V. Narayanan has been appointed as the new Chairman of the Indian Space Research Organization

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