Hyderabad: STARTPACE SPACETECH based Hyderabad Aerospace, which built the first Indian room launch vehicle in India, on Thursday today said it had managed to collect $ 4.5 million through round raising and raising and raising and raising and raising and raising and raising.
The bridge round was led by early Google Investor Ram Shriram through its venture capital company Sherpalo Ventures and was led by Wami Capital, an existing investor and former Head of Officials Whatsapp Neeraj Arora and former executive Google Singhal.
With this, skyroot, which is the first startup with whom the ISRO signs the MoU to share facilities and expertise, so far collecting $ 17 million, the largest by the Indian room startup, he said.
The latest round came after skyroot raised $ 11 million in 2021 through the rounds led by founder of Greenko with the participation of the solar industry registered in public, graphic business, among others.
Startup also muddled $ 1.5 million in mid-2018 in the seed round funded by the founder of Mytra Mukesh Bansal’s Incubator Mérki Labs.
SKYROOT Aerospace Co-Founder and COO Naga Bharath Daka said: “This round helps us build initial critical infrastructure and help accelerate towards our launch this year.
2022 will be a big year for us and the entire Indian space ecosystem.” “In the last 18 months, We managed to show three advanced propulsion technologies used in a series of our space launch vehicles, and this year will be the year of hypergrowth, where we will test our last rocket stage for launch, while continuing to build a strong order book for the first few launches, “Clear Skyroot Aerospace Co-Founder & CEO of Pawan Kumar Chandana.
“India has long been a leader in rocket launch capabilities, especially at a much lower cost.
Skyroot takes the technical strength to the next level, with innovative and cost-effective space launch capabilities, disrupting the status quo in the global launch market” said Ram Shriram, One of the first investors and members of the Double Board, and Billionaire Founder of the Venture Capital Company Sherpalo Ventures who invest in promising new disturbing technology.
Chetan Mehta, CEO, Wami Capital said: “We have always supported innovative companies and skyroot represents the classic story about the innovation of homegrown disorders and strong executions by young and dynamic indian entrepreneurs with vision, grit and strong determination.
Their mission for democratization Room access will open a new opportunity area and will run away in contributing to the strong Indian space ecosystem offering to the world.
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