India’s Skyroot Aerospace Raises $50.5 Million in Series B Round

Vikram boosters (Credit: Skyroot Aerospace)

India’s Skyroot Aerospace has raised $50.5 million in a Series B round to fund development of its Vikram family of launch vehicles. ENTRACKR reports:

Skyroot Aerospace has issued 106 equity shares and 1,15,938 Series B compulsory convertible preference shares at an issue price of Rs 34,728.39 each to raise $50.5 million or Rs 403 crore, its regulatory filings show.

GIC (via Waverly Pte Ltd) has led the round with $47.61 million or Rs 380 crore whereas LNM India Internet Venture has infused $2.88 million or Rs 23 crore. The round appears to be an ongoing one and Skyroot may receive more funds.

With this new round, Skyroot Aerospace has raised over $67 million to date including seed capital from Mukesh Bansal, a $11 million Series A and a $4.5 million bridge round.

As per Fintrackr’s estimates, Skyroot has been valued at around $165 million or Rs 1,304 crore (post allotment). Following the allotment of the Series B round, GIC holds a 30.11% stake while LMN India Internet owns a 1.82% in the four-year-old company.

Skyroot is developing a family of Vikram boosters that require minimal range infrastructure and can be assembled and launched within 24 or 72 hours depending upon the version used. The company describes the rockets as follows.

Vikram I

  • 225 kg to 500 km sun synchronous polar orbit (SSPO)
  • 315 kg to 45º inclination 500 km low Earth orbit (LEO)
  • Highly reliable solid propulsion stages with proven design heritage.
  • Orbital Adjustment Module with re-start capability enables multi-orbit insertions.
  • Requires minimal range infrastructure. Can be assembled and launched within 24 hours from any launch site.

Vikram II

  • 410 kg to 500 km SSPO
  • 520 kg to 45º inclination 500 km LEO
  • Advanced methalox engine replaces third stage of Vikram 1.
  • Upper stage cryo-engine with re-start capability enables multi-orbit insertions.
  • Requires minimal range infrastructure. Can be assembled and launched within 72 hours from any launch site.

Vikram III

  • 580 kg to 500 km SSPO
  • 720 kg to 45º inclination 500 km LEO
  • Upgrade to Vikram 2 with additional low-cost strap-on solid rocket boosters.
  • Upper stage engine with re-start capability enables multi-orbit insertions.
  • Requires minimal range infrastructure. Can be assembled and launched within 72 hours from any launch site.