Startup funding in India is reaching for orbit: Skyroot Aerospace is in talks to raise $300 million in two tranches priced at different valuations, as the spacetech unicorn looks to scale rocket production following its maiden orbital mission.
According to ETtech's Morning Dispatch on 15 October 2026, the company is in talks with Indian family offices to raise $150 million at a valuation of $2.3–2.5 billion. It is seeking another $150 million from global investors, including General Catalyst, General Atlantic and Silicon Valley venture fund Benchmark, at a higher valuation of up to $3 billion.
Why the raise matters now
Skyroot, founded by Naga Bharath Daka and Pawan Kumar Chandana, is positioning for production scale after its first orbital mission — the expensive phase where spacetech companies move from demonstration flights to manufacturing rockets at volume. That shift needs serious capital for facilities, supply chains and test infrastructure.
Spacetech's capital moment
The two-tranche structure is telling: a domestic raise at one valuation and a global raise at a higher one lets Skyroot tap Indian family-office appetite while using international names as valuation anchors. It also reflects how much conviction global capital now has in Indian spacetech — a sector that barely existed as a venture category five years ago.
Why it matters for founders
Deals are still in talks, so read this as signal, not certainty — but the structure is the lesson. If your company has two distinct investor pools with different valuation logic, a two-tranche raise can capture both. For deeptech founders, Skyroot's $300 million conversation is proof that scale-up capital exists for hardware, not just software.