Hyderabad based startup Skyroot Aerospace raises $11 mn Series A funding
Skyroot Aerospace, whichis
into building privatespace launch vehicles,on Thursday said it raised USD 11
million Series A
funding from investors led by Greenko Group
founders Anil Chalamalasetty and Mahesh Kolli.
According to a press release issued by the city-based startup, the
funding also saw participation from public listed entity Solar Group, a major
Space and Defence supplier, Former-Whatsapp CBO Neeraj Arora, existing investor
Mukesh Bansal (founder of Myntra and CureFit), Worldquant Ventures, Graph
Ventures, Sutton Capital, Vedanshu Investments, and few angels.
Naga Bharath Daka, Co-Founder and COO of Skyroot, said the firm
started bookings for launches starting from mid next year and is actively
engaging global customers.
"We intend to raise USD 40 million more to fund our
aggressive growth plans over the next few years," Daka said.
This is so far the largest investment in the Indian Space Startup
Scene after the Indian cabinet approved private sector participation in Space
activities, the release said.
Pawan Kumar Chandana, Co-Founder and CEO of Skyroot, said,
"We are proud to be backed by visionary Entrepreneurs who built industry
leading businesses and share our passion for democratising access to Space. We
are excited to work with them in building Skyroot into a leading Space player
globally."
Comments
Post a Comment