Skyroot Aerospace Raises $51 Million In Funding Round Led By GIC India
NDTV
Skyroot co-Founder and CEO Pawan Kumar Chandana said fresh capital raised will be used to fund the company's initial launches and expand the team and customer pipeline.
Space tech start-up Skyroot Aerospace has raised USD 51 million or around Rs 403 crore in a funding round led by GIC India Direct Investment Group, the company said on Friday.
This is the largest funding round ever in the Indian space-tech sector, the company said in a statement.
Skyroot co-Founder and CEO Pawan Kumar Chandana said fresh capital raised will be used to fund the company's initial launches and expand the team and customer pipeline.
"We are proud to welcome one of the world's leading institutional investors as a long-term partner in our mission to ‘Open Space for All'. This round puts us on a trajectory of hypergrowth by funding all of our initial developmental launches, and enables building infrastructure to meet high launch cadence required by our satellite customers," Chandana said.
