Skyroot Aerospace Unicorn Fundraise: Trilegal, TT&A, and CAM Advise on $60 Million Round
Skyroot Aerospace has achieved unicorn status after raising $60 million in a fresh funding round co-led by Sherpalo Ventures and Singapore’s sovereign wealth fund GIC. The round values the company at around $1.1 billion, making Skyroot India’s first space-tech unicorn. Trilegal, TT&A, and Cyril Amarchand Mangaldas advised on the Skyroot Aerospace unicorn fundraise.
Introduction
Cyril Amarchand Mangaldas advised an entity of the founders of Greenko Group in relation to its participation in the $60 million pre-Series C2 round of investment raised by Skyroot Aerospace Private Limited through subscription of compulsorily convertible preference shares in Skyroot. The round drew participation from BlackRock, the founders of Greenko Group, Arkam Ventures, Playbook Partners, and the Shanghvi Family Office, with Playbook Partners and Shanghvi Family Office joining as new backers while Sherpalo, GIC, BlackRock, Greenko Group, and Arkam Ventures increased their existing investments.
Skyroot Aerospace is a private Indian aerospace manufacturer and commercial launch service provider headquartered in Hyderabad, Telangana, and is known as one of India’s leading private space companies, offering on-demand satellite launches with its Vikram series of rockets.
Deal Value
With this round, the company has raised a total of $160 million to date, taking its valuation to $1.1 billion.
Legal Teams Involved
Trilegal advised Skyroot Aerospace Private Limited on this fundraise.
- Vishruta Kaul — Partner (Team Lead)
- Bhavya Vatsa — Counsel
- Advaye Sawhney — Senior Associate
- Saksham Gadia — Associate
TT&A advised investor Playbook India Fund II (Scheme of Playbook Partners India) on this fundraise.
- Dushyant Bagga — Partner
- Akshita Alok — Counsel
- Radhika Sarda — Senior Associate
Cyril Amarchand Mangaldas advised an entity of the founders of the Greenko Group on its participation in this fundraise. The firm advised on the transaction documentation and closing of the investment.
- Bhargav Joshi — Partner (Transaction Lead)
- SB Aditi — Associate
- Santosh Jankiram — Senior Partner (Strategic Inputs)
Significance and Impact
Following the latest capital infusion, Skyroot’s valuation has climbed to $1.1 billion, more than doubling from its 2023 valuation of approximately $519 million, making it India’s first unicorn in the private space sector. The fundraise cements India’s position as a serious player in the global commercial launch market.
The capital will help Skyroot establish a high cadence of Vikram-1 launches, scale up manufacturing, and develop Vikram-2, a 1-tonne-class launch vehicle powered by an advanced cryogenic stage, expanding the range of missions and customers it can serve. The three-firm legal mandate — spanning company-side, investor-side, and individual investor-side counsel — reflects the complexity and scale of the transaction.
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Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
