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Skyroot Aerospace raises ₹225 crore funding
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https://www.thehindu.com/news/national/telangana/skyroot-aerospace-raises-225-crore-funding/article67475715.ece
> India’s leading private space-tech company, Skyroot Aerospace has raised an additional US$ 27.5 million, equivalent to ₹225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore on Monday.
> Skyroot Aerospace, founded in 2018, successfully launched India’s and South Asia’s first, and till date the only, privately developed rocket on November 2022, marking the Indian private space sector’s entry into the space launch market. The company offers on-demand, cost-effective, reliable and regular space launch services to the fast-expanding global small and medium-sized satellite market, with satellite operators who look to deploy single or constellations of satellites across orbits as its customers.
> It was the first startup to sign a memorandum of understanding (MoU) with the Indian Space Research Organization (ISRO) which grants access to cutting-edge facilities and unparalleled expertise. With its Vikram series of rockets, specially designed to deploy small and medium-sized satellites into space efficiently and reliably, Skyroot is poised to transform the space launch capabilities of the country, according to the release.