Page 4 - Spec Tech Vol 1 Issue 09
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Image Credit: Skyroot Aerospace
first startup in 2021 to sign a memorandum services through the Department of
of understanding with the ISRO to launch its Telecommunications.
rockets.
The industry players have also requested
The startup has raised $68 million in total, the government to open foreign direct
including $51 million in a Series B round led investment policy and incentives on taxes,
by Singapore-based GIC in September, and import duties and domestic manufacturing of
has a valuation of $165 million. space equipments that are yet to be
According to the data shared by Indian addressed.
Space Association (ISpA) with TechCrunch, “We’re very excited to announce that we
Indian space startups have raised more scripted history today by successfully
than $245.35 million, with $108.52 million launching India’s first privately developed
infused in 2022 alone. The association rocket Vikram-S,” said Chandana of
counts Skyroot as one of its members, Skyroot. “This Prarambh mission, as the
alongside private companies including name signifies, is the beginning of a new
Bharti Airtel and OneWeb as founding era in the Indian Space ecosystem. Team
members. Skyroot dedicates this successful mission to
The government is currently working on a Dr. Vikram Sarabhai, who boldly started the
new space policy to increase private Indian space program in the 1960s and
participation and encourage investment in honorable Prime Minister Shri Narendra
the country’s space sector. Modi ji, who unlocked the space sector to
the private players. And most importantly,
In a recent interview with TechCrunch, ISpA
Director General Lt. Gen. AK Bhatt said the we thank InSPACe and ISRO, all their
space policy would address some issues teams and the dynamic leadership who
raised by the industry players, including a enabled this mission in this most efficient
single sanction window and spectrum way.”
allocation for satellite-based communication
Space Explorer 2022 4
