- The partnership will help Skyroot to access ISRO's facilities and technical expertise to build its propulsion rocket.
- Last year, Skyroot had raised Rs 31.5 crore after the government opened up the space sector for private companies.
- The startup has three launch vehicles, 'Vikram I', 'Vikram II', and 'Vikram III'.
As part of building a private space ecosystem in the country, Hyderabad-based space tech startup Skyroot Aerospace has partnered with the Department of Space (DoS) to build its first solid propulsion rocket to launch satellites in Earth's lower orbit.
Skyroot Aerospace, on February 2, entered into a non-disclosure agreement (NDA) with the Department of Space (DoS). With this development, Skyroot will be able to use ISRO facilities and technical expertise for its launch vehicle development programme.
"We formally signed up with ISRO. This is the beginning of a historic journey together. Our hardware will soon be rolled out to ISRO's facilities for testing," the startup tweeted.
In August 2020, Skyroot successfully test-fired an upper-stage rocket engine, which made them the first-ever Indian private space organization to test-fire a rocket engine.
Later in December 2020, It announced the successful test-firing of its solid propulsion rocket stage named Kalam-5, which was built with an advanced carbon composite structure in a completely automated process.
Founded in 2018 by two IITIAN’s and a former scientist of India Space Research Organization (ISRO) Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace is working towards the goal of sending its first launch vehicle, 'Vikram I', into space by the end of this year.
The startup is funded by Vedantu Investments, Curefit co-founder Mukesh Bansal, Solar Industries, among other investors. To date, It has raised over $4.3 million in funding.
Skyroot Aerospace currently has three launch vehicles, including Vikram I, Vikram II, and Vikram III.
"We are building the first private Indian launch vehicle to put a satellite in orbit and marching ahead to compete for a reasonable share in the international small satellite launch market which is estimated to be $16Bn in the next decade," said Pawan Kumar Chandana, Co-founder & CEO of Skyroot Aerospace.
During the Union Budget 2021 announcement, The government has allocated Rs 13,949 crore to the department of space (DoS) out of which Rs 8,228 crore was allocated for the capital expenditure.
According to the reports by PwC, the Indian space sector is estimated to be valued at $7 billion, which is 2% of the whole global space economy.
Other than Skyroot Aerospace, Dhruva Space, Bellatrix Aerospace, Manastu Space Technologies are some startups that are working in the space technology sector.