Skyroot Aerospace Raises $51 Million from Singapore's GIC: Complete Information

 According to a report, Skyroot Aerospace said on Friday that it has raised $51 million (approximately Rs. 400 crore) from a Singapore-based investor. According to reports, the investment would be used to develop the country's first private space launch vehicles (SLV) and to speed the company's plans to launch big payloads into low-Earth orbit. According to a source, it plans to begin commercial satellite launches by mid-2023 and has a data and expertise exchange arrangement with the Indian Space Research Organisation (ISRO).

According to Reuters, the Hyderabad-based startup Skyroot Aerospace said on Friday that it had raised $51 million (approximately Rs. 400 crore) from capital investment firm GIC (the Government of Singapore Investment Corporation), which led its newest round of funding. According to reports, the company hopes to reach full-fledged commercial satellite launch scale within a year.

Skyroot Aerospace is said to intend to start commercial satellite launches in mid-2023. Its SLV is believed to be made of carbon fiber and can carry payloads weighing up to 800kg. According to the article, the company has begun to reserve launch slots for payloads.

ISRO completes the Gaganyaan LEM test and opens the SPARK Virtual Space Museum.

In June, the country's space experienced significant occurrences in privatization activities. According to PTI, they included ISRO's Polar Satellite Launch Vehicle (PSLV) carrying payloads from two Indian space sector startups, as well as the launch of the first demand-driven satellite ordered by Tata Play.

According to the research, an earlier assessment by the Centre for Development Studies and the Indian Institute of Space Science and Technology estimated India's space economy at $ 5 billion (approximately Rs. 39,860 crore) for the 2020-21 fiscal year.

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