Skyroot raises US$27.5mil, ups ante in India space race

Skyroot Aerospace's logo is seen in this picture illustration taken November 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

HYDERABAD: India’s Skyroot Aerospace says it has raised US$27.5mil in a fresh round of funding led by Singapore’s Temasek, upping the ante in the country’s burgeoning space industry days after rival Agnikul Cosmos raised a similar amount.

The Hyderabad-based company, which launched India’s first private rocket in 2022, is set to launch its second commercial rocket, the Vikram-I, next year.