Share Price of Skyroot Aerospace, skyroot aerospace share price, skyroot share price 2023, Founded in Hyderabad by former ISRO engineers, Skyroot Aerospace is aiming to build its own line of small-lift launch vehicles. The startup has raised $11 million in Series A funding and secured bridge funding of $4 million earlier this year. Skyroot plans to use the funds to further its engineering team and to complete the testing of the Vikram-1 launch vehicle.
Skyroot is developing its own series of space rockets, which will be able to place small satellites up to 500 kg in Low Earth Orbit. The rockets will use cryogenic stages and solid fuel. The first variant of the Vikram series has a payload capacity of 480 kg to 500 km SSPO, while the second and third variants have payload capacities of 560 kg to 500 km SSPO and 815 kg to 500 km SSPO, respectively. The Vikram series will also feature a stage called the Orbit Adjustment Module, which will enable multiple satellite placement.
Skyroot has received funding from several investors, including Mukesh Bansal of Myntra, Neeraj Arora of Solar Industries, Amit Singhal of Sherpalo Ventures, and Wami Capital. The startup’s valuation has reached $165 million. The company plans to expand its engineering team and to double its workforce by 2020. In September, Skyroot received $51 million in Series B funding led by Singapore-based investment firm GIC. The startup has also expanded its ESOP pool to 15,223 stock options.
The company’s mission is to democratize space access by building a small, affordable launch vehicle for commercial use. Among the company’s core technologies are cryogenic engines, liquid propulsion systems, and solid propulsion technologies. The company is also developing space debris mapping technology. Skyroot Aerospace is planning to launch its first private space mission in India, a mission named Prarambh, in November. The mission will carry two Indian payloads and one foreign customer payload. The maiden flight will be from the Indian Space Research Organization’s launchpad at Sriharikota.
Skyroot has been testing the upper stage of its Kalam-5 rocket engine in December. The company tested the engine at Solar Industries’ rocket propulsion test facility. The company is also testing five carbon-composite Kalam rocket motors. The company’s rocket engine is named after A P J Abdul Kalam, former President of India. The engine is dedicated to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
The company’s founders are former ISRO engineers, Naga Bhararth Daka and Pawan Chandana. Both worked as rocket system engineers in ISRO’s space programs. Naga Bhararth Daka was a deputy project manager in several ISRO projects. Pawan Chandana has a bachelor’s degree in electrical engineering from the Indian Institute of Technology-Madras, as well as a master’s degree in Microelectronics from VSL. Naga Bhararth Daka graduated from the same university and worked as a rocket system engineer in several projects for ISRO. He also contributed to defense applications.
Skyroot plans to build three variants of its launch vehicle, each capable of carrying a small satellite up to 500 kg. The company will attempt to launch three commercial payloads, and will use ISRO infrastructure to test and validate its technologies.