Skyroot Aerospace, which recently launched the nation’s first private rocket Vikram-S with success, intends to do the same with Vikram-1, a much larger rocket designed to orbit satellites.
Future cost reductions for space travel are another goal of the Hyderabad-based space startup. “After successfully launching Vikram-S, the first private rocket, in the past, we now intend to launch Vikram-1, a much larger rocket that will place satellites into orbit”Co-founder of Skyroot Pawan Chandana said.
Skyroot also wants to become one of the first few companies in the world that can place satellites into orbit. He said the firm has raised about USD 68 million, which is the largest in the aerospace startup ecosystem in India. “Of course, it took close to four years to raise this kind of capital. Now, we are good for the first few launches to orbit and then, of course, it has been very challenging because first time somebody went to the market and raised such large capital,” Chandana said.
Skyroot would keep on raising more capital in its journey forward and would like to generate a good amount of revenue as it starts launching next year, he said.
Noting that space travel is expensive now, he said his firm aims to slash costs, make it affordable and increase reliability. “To biggest problem is that space travel is very costly. Because, rockets, the only way to go to space are very unreliable. Sometimes, they don’t work and are also very expensive. They fall into the sea and then you are building something, throwing it away. It’s very costly,” he said.
The Blue Origin of Amazon founder Jeff Bezos started offering services such as space travel and it may take up to 10 years to become a reality from an Indian perspective, he added.
India on November 18 successfully launched its first privately made rocket, developed by four-year-old Skyroot, marking the entry of the private sector into the country’s space ecosystem, which is currently dominated by the state-run behemoth ISRO.
