Hyderabad, India – In a significant milestone for India’s startup space industry, Dr. Jitendra Singh, the Union Minister of Science and Technology, unveiled Skyroot Aerospace’s Vikram-1 orbital rocket on October 24th. This event marks a crucial step in the development of the Indian space sector as it gears up for fully commercial launches in the coming months.
Vikram-1, described by the company as a “technologically advanced, multi-stage launch vehicle with a payload capacity of approximately 300 kilograms to Low Earth Orbit,” is set to become India’s first rocket capable of deploying multiple satellites into space. It is a notable achievement for India and one of the few globally to feature 3D printed liquid engines. The rocket, designed with an all-carbon-fiber body, is slated for launch in early 2024, making it Skyroot’s second rocket after the successful debut of Vikram-S on November 18th, 2022, India’s inaugural privately-developed rocket.
The progress in India’s space sector is evident, particularly since it opened the door to private players in 2020. Vikram-1 represents a scaled-up version of Vikram-S, showcasing the nation’s growing capabilities in space technology.
Pawan Kumar Chandana, the Co-Founder and CEO of Skyroot, explained the launch schedule, highlighting that a full-fledged developmental test launch is planned for the early months of 2024, with a commercial launch to follow later in the same year. He expressed confidence in the face of growing global competition, emphasizing that they are among the few companies to have successfully launched rockets in the last five years, setting them apart as the first and only startup from India to achieve this feat.
On the funding front, Chandana revealed that Skyroot has raised Rs 526 crore, providing them with financial stability for upcoming launches. He mentioned that Rs 400 crore was secured just a year ago.
Dr. Singh, the Union Minister of Science and Technology, emphasized the tremendous potential of the space economy. Currently valued at around $8 million, conservative estimates project it could reach $40 million by 2040, with some even anticipating it could grow to $100 million during the same period.
In conjunction with the Vikram-1 launch, Dr. Singh inaugurated Skyroot Aerospace’s new global headquarters in Hyderabad, named MAX-Q. The facility is being hailed as “the country’s largest private rocket development facility under a single roof.” It boasts cutting-edge infrastructure, including integrated design, manufacturing, and testing facilities, catering to the development of space launch vehicles. The sprawling 60,000 square feet built-up area is designed with a futuristic space theme, and it will accommodate the 300-member strong Skyroot workforce. Further expansion plans are already in the works.
Bharath Daka, Co-Founder and COO of Skyroot, emphasized the company’s commitment to pushing boundaries and achieving the extraordinary. He noted that the design prowess and home-grown technology integral to the creation of Vikram-1 will be critical in preparing for its early 2024 orbital mission.
The unveiling of Vikram-1 and the establishment of MAX-Q underline India’s growing significance in the global space industry and set the stage for exciting developments in the coming years.
