India’s startup ecosystem has expanded rapidly with the new addition of Aerospace technology entering into the unicorn space. Skyroot Aerospace has raised $60 million, nearly Rs 570 crore in a funding round co-led by Sherpalo Ventures and GIC, with participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office.

India has nearly 2.3 lakh startups now recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). Apart from SkyRoot Aerospace, KreditBee has also crossed the $1 billion valuation mark to become unicorns.

According to the data released by market intelligence platform Tracxn, India has created 131 unicorns so far, with four added in 2026, as of May 7. Only 93 of these unicorns remain activeThe country added nine unicorns in 2025, compared with seven in 2024 and two in 2023. India saw its biggest unicorn boom in 2021, when 44 startups entered the club, followed by 24 in 2022.

According to the company, the newly raised capital will help increase launch frequency, expand manufacturing capabilities and speed up work on its next-generation Vikram-2 rocket, which is currently under development. As part of the funding round, tech investor Ram Shriram is also set to join Skyroot’s board.

Founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, the startup was among the first private companies to gain access to ISRO facilities and technical support after the reforms.

Also Read:Skyroot Raises $60 Million, Becomes India’s First Space-Tech Unicorn Ahead Of Vikram-1 Launch

The Hyderabad-based aerospace manufacturer first became the talk of the town back in 2022 with Vikram-S, a suborbital rocket that successfully reached space.

India’s unicorn journey began with InMobi in 2011 and has since been driven by rising investor interest, digital adoption and policy support.

Last month, Bengaluru-based fintech KreditBee entered the Unicorn club with a $280 million pre-IPO round, valuing the consumer lending startup at $1.5 billion.

KreditBee fund raise round was led by Motilal Oswal Alternates, Hornbill Capital and MUFG-backed Dragon Funds. It witnessed the participation from investors including Premji Invest and Advent International, among others.

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