Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s leading private space-tech company, Skyroot Aerospace has raised an additional $27.5 million, equivalent to ₹225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore. The present capital infusion builds upon the company's previous raise in 2022, bringing its total funding to USD 95 million, which is the largest ever for an Indian Space-tech startup. Skyroot plans to utilize the newly acquired capital to drive its next phase of growth through increased investments in infrastructure, reinforcement of its technology leadership, attraction of top-tier talent, and the enhancement of its launch frequency and capabilities, all while maintaining a lean and agile core team, the Hyderabad-headquartered company said in a statement. Founded in 2018 by space scientists-turned-space entrepreneurs, <keyword id="6364836" type="General" weightage="80" keywordseo="pawan-kumar" source="Orion">Pawan Kumar</keyword> Chandana and <keyword id="7537906" type="General" weightage="80" keywordseo="naga-bharath-daka" source="Orion">Naga Bharath Daka</keyword>, Skyroot is the country's leading private space launch vehicle company. In November 2022, it successfully launched India's and South Asia's first, and till date the only, privately developed rocket, marking Indian private space sector's entry into the space launch market. As the leading player in small and medium space launch vehicle designing and building in India's private sector, the company offers on-demand, cost-effective, reliable and regular space launch services to the fast-expanding global small and medium-sized satellite market, with satellite operators who look to deploy single or constellations of satellites across orbits as its customers. Skyroot was the first startup to sign a memorandum of understanding (MoU) with the <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO). The collaboration grants Skyroot access to ISRO's cutting-edge facilities and unparalleled expertise. Skyroot is poised to transform space launch capabilities of the country with its Vikram series of rockets, specially designed to deploy small and medium-sized satellites into space efficiently and reliably. "As we prepare for the launch of our second mission early next year, this new funding will enable us to accelerate our upcoming launches planned over the next two years. India's successful moon landing mission has reignited global interest in India's space prowess. As a key player in India's private space industry, we are amplifying our capabilities to tap into the expanding global satellite launch market with a goal to emerge as a favourite 'go-to' choice in space launch services for small satellites," said Pawan Kumar. Bharath Daka said this fund-raise would help the company to invest in the enhancement of production infrastructure, R&amp;D and team strength. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank">From the new Renault Duster to Tata Punch EV, upcoming cars launching in India this November</a> <a href="https://www.businessinsider.in/tech/news/delhi-woman-loses-50-lakh-in-sim-swap-scam-heres-how-you-can-stay-safe/articleshow/104745898.cms">Delhi woman loses ₹50 lakh in SIM Swap scam – Here’s how you can stay safe</a> <a href="https://www.businessinsider.in/tech/news/x-starts-rolling-out-audio-and-video-calls-heres-everything-you-need-to-know/articleshow/104716334.cms">X starts rolling out audio and video calls – here’s everything you need to know</a>

Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

Financial markets are being rocked by the shutdown of <keyword id="14902525" type="General" weightage="80" keywordseo="russias-nord-stream" source="Orion">Russias Nord Stream</keyword> 1 pipeline, as the energy squeeze on European economies intensifies as winter approaches. The euro fell to a two-decade low during early trading on Monday morning, after Russian energy major <keyword id="81857" type="General" weightage="80" keywordseo="gazprom" source="Orion">Gazprom</keyword> extended the shutdown of its gas pipeline to Germany on September 2, The <keyword id="6359268" type="General" weightage="80" keywordseo="guardian" source="Orion">Guardian</keyword> reported. Fears over sky-high energy prices, and possible shortages, pushed the euro further below parity against the US dollar sending the single currency as low as $0.9879 against the US dollar for the first time in two decades. <keyword id="1660673" type="General" weightage="80" keywordseo="nord" source="Orion">Nord</keyword> Stream 1 was due to restart operations on Saturday morning, after a three-day shutdown for maintenance. But Gazprom dashed hopes of a resumption the previous day, blaming a leak. Analysts predict gas prices will soar, having fallen back from recent highs last week, The Guardian reported. <keyword id="216117" type="General" weightage="80" keywordseo="michael-hewson" source="Orion">Michael Hewson</keyword> of CMC Markets said" "Russia's actions on Friday in indefinitely closing the pipeline could see renewed upward pressure on European and UK natural gas prices when markets reopen today, after seeing big falls in prices last week as UK natural gas prices fell 39 per cent, while European prices fell 33 per cent." European stock markets are heading for sharp losses at the open, with Germany's DAX down 2-3 per cent in the futures market, The Guardian reported. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/top-10-most-subscribed-youtube-channels-in-india/slidelist/94003182.cms">Top 10 most-subscribed YouTube channels in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-space-tech-startup-skyroot-aerospace-raises-51-million-in-gic-led-funding-round/articleshow/94003808.cms">Indian space tech startup Skyroot Aerospace raises $51 million in GIC-led funding round</a>

Euro hits 20-yr low as Russian pipe shutdown rocks markets

The day is not far when <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> will see its own mega private aerospace company like Elon Musk-owns SpaceX or <keyword id="12232315" type="General" weightage="20" keywordseo="jeff-bezos-run" source="Orion">Jeff Bezos-run</keyword> Blue Origin, taking travellers to the edge of space and beyond, <keyword id="12180756" type="General" weightage="20" keywordseo="srinath-ravichandran" source="Orion">Srinath Ravichandran</keyword>, co-founder and CEO of rocket startup AgniKul Cosmos, has envisioned. In a chat with IANS, Ravichandran who is ecstatic after Agnikul Cosmos was granted access to the Indian Space Research Organisation (<keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword>) facilities and expertise for the development and testing of systems and subsystems of its rockets, said that the pact with ISRO will allow them to ultilise its facilities to test out various sub-systems of their launch vehicle. "This will, in turn, help us with reduced capital expenditure and expedited testing," he said. "India can have its own SpaceX or Blue Origin kind of mega private space firm in the near future. There is so much support from the government and investors are open to invest too in the homegrown spacetech startups," Ravichandran added. The next step, he added, will be to aim multiple launches per year and scale to the extent of having a launch once in two-three weeks. "Beyond that would be about making the vehicles more efficient, thereby providing even cheaper access to customers. We are doing this through a mix of innovations on various technologies in the vehicle," Ravichandran informed. Last month, Chennai-based Agnikul Cosmos received the nod by the Department of Space to carry out multiple tests and qualify its single piece 3D-printed semi-cryogenic engine and other systems of its rocket at various ISRO centres. This is the second pact that the Department of Space has signed with a rocket maker, after the first with Hyderabad-based <keyword id="7537495" type="General" weightage="20" keywordseo="skyroot-aerospace" source="Orion">Skyroot Aerospace</keyword> on September 11. According to Ravichandran, their rocket engines are 100 per cent 3D-printed, that too in a single shot. "This allows us to directly assemble what comes out of the 3D printer in our launch vehicle. The big advantage of this is the ability to provide and enable rapid launch access and, at the same time, make customisable launch vehicles," elaborated Ravichandran. He formed the startup with Moin SPM within IIT-Madras with a seed funding of Rs 3 crore, with an aim to develop and launch its first rocket in 2021 and subsequently develop ability to provide launch service for satellites. The current investors in the spacetech startup are Mayfield India, PI Ventures, Speciale Invest, Beenext, Artha and others. In June, India decided to allow private companies to establish and operate rocket launch sites within and outside the country, subject to prior authorisation from the government. Similarly, any rocket launch (orbital or sub-orbital) from Indian or overseas territory can be carried out only with authorisation from Indian National Space Promotion and Authorisation Center (IN-SPACe), an independent body constituted by the Government of India, under the Department of Space (DOS). The launch could be from own or leased launch site and also from mobile platforms (land, sea or air) as per the Draft National Space Transportation Policy-2020 brought out by the Department of Space. "Now that we also have to plan the entire engine building facility in-house, we are confident that we can control engine making end-to-end in India, thereby not only enabling 'make in India' but also 'design in India'," Ravichandran told IANS. He said that anyone who wants to do a space tech startup should do it today. "Right now is the best time to do a spacetech startup in India. The government has been very forthcoming in terms of the help provided to enable private missions and now would be a good time to get started to get things done," Ravichandran noted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adar-poonawalla-backed-pharmacy-chain-wellness-forever-files-for-ipo/articleshow/86699746.cms">Adar Poonawalla-backed pharmacy chain Wellness Forever files for IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-earners-at-ritesh-agarwal-led-oyo-as-per-its-drhp/slidelist/86682750.cms">OYO’s Ritesh Agarwal took home ₹1.6 crore in FY2021 — here are the top earners in the IPO-bound company</a>

India set to witness its SpaceX moment soon, says Agnikul CEO

With 2,57,299 fresh cases of Covid-19, India on Saturday witnessed the lowest rise in infection since April 21, even as 4,194 people died due to the pandemic in last 24 hours, according to the Union Health and Family Welfare Ministry. India's overall tally of Covid-19 cases now stands at 2,62,89,290 with 29,23,400 active cases and 2,95,525 deaths so far. According to the Health Ministry, a total of 3,57,630 people have been discharged in the last 24 hours, with 2,30,70,365 being cured from Covid till date. ALSO READ: <a href="https://www.businessinsider.in/india/news/icmr-approved-home-test-kit-coviself-priced-at-250-company-claims-you-can-test-for-covid-19-in-15-minutes/articleshow/82799813.cms" data-type="tilCustomLink" target="_blank">ICMR-approved home test kit CoviSelf priced at ₹250, company claims you can test for COVID-19 in 15 minutes</a> The Health Ministry said that a total of 19,33,72,819 people have been vaccinated so far in the country, including 14,58,895 who were administered vaccines in the last 24 hours. According to the Indian Council of Medical Research (ICMR), 32,64,84,155 samples have been tested up to May 21 for Covid-19. Of these 20,66,285 samples were tested on Friday. <div type="image" title="COVID Vaccine registration" msid="82853316" hostid="261" caption="&amp;lt;p&amp;gt;People waiting during COVID-19 vaccination drive at KC General Hospital, in Bengaluru on Friday 21 May 2021.&amp;lt;/p&amp;gt;"></div> India registered record deaths due to Covid on Wednesday with 4,529 deaths -- the highest number of fatalities from Covid infection in any country since the coronavirus outbreak was reported in China's Wuhan in December 2019. It surpassed 4,468 deaths in the US on January 12, and earlier 4,211 in Brazil on April 6. These three are the worst-hit by the pandemic. After battling a brutal second wave for weeks, fresh <keyword id="8869954" type="UNKNOWN" weightage="20" keywordseo="covid-cases">Covid cases</keyword> came down below the three lakh-mark for the first time on May 17 after touching record high of 4,14,188 on May 7. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms">Skyroot Aerospace raises $11 million in funding with plans to have Vikram-1 on the launch pad by mid-2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-polygon-founded-by-3-indians-has-touched-13-billion-in-market-cap/articleshow/82770196.cms">Cryptocurrency Polygon, founded by 3 Indians, has touched $13 billion in market cap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a>

You Searched For "skyroot funding" and got 4 results

Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

IANS

Euro hits 20-yr low as Russian pipe shutdown rocks markets

IANS

India set to witness its SpaceX moment soon, says Agnikul CEO

IANS

For the first time since April 16, daily COVID-19 cases in India fall below 2.6 lakh

IANS

Popular Keywords

Buying Guides