Indian spacetech startup Skyroot Aerospace is in advanced talks to raise around $280–300 million from global investors including Fidelity, General Catalyst and Benchmark, according to people familiar with the discussions cited by Moneycontrol. The proposed round could value the Hyderabad-based rocket company at $2.8–3 billion, although the final size, valuation and investor participation could still change.
Fidelity is reportedly considering an investment of around $170–190 million, General Catalyst about $70–80 million and Benchmark roughly $20–30 million. Existing investors including GIC, BlackRock, Sherpalo Ventures, Arkam Ventures and Playbook Partners may also participate. If completed, the transaction would mark Benchmark’s first known direct investment in an Indian company.
The negotiations represent a sharp valuation step-up for Skyroot. In May, the company raised $60 million at a $1.1 billion valuation, becoming India’s first spacetech unicorn. Just three months later, it was seeking more than $200 million at around a $2 billion valuation before investor competition reportedly pushed the latest discussions closer to $3 billion.
A major catalyst has been Vikram-1’s successful orbital launch on July 18. ISRO confirmed that the privately developed rocket lifted off from Sriharikota and successfully placed two satellites into low-Earth orbit, making Skyroot the first private Indian company to launch successfully into orbit from Indian soil.
Skyroot is now working to move from a milestone launch toward a repeatable commercial launch business. Vikram-1 is designed for small satellites, while the larger Vikram-II is planned with greater payload capacity and a cryogenic upper stage. The proposed fundraise would therefore be a bet not just on one successful mission, but on Skyroot’s ability to increase launch cadence, scale manufacturing and win international satellite customers. For now, however, the funding remains under negotiation rather than a closed transaction.
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