Skyroot Aerospace's logo is seen in this picture illustration taken November 26, 2022.
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHYDERABAD, Aug 28 (Reuters) - Skyroot Aerospace, which launched India's first private rocket in 2022, aims to double its planned launches starting next year on a likely boost to the country's fledgling private space sector from the success of the Chandrayaan-3 moon mission.
The company conducted India's first private rocket launch looking to cut satellite launch costs in an industry fast getting crowded as various firms build out networks to deliver broadband services, which need small satellite launches.
Chandana said the company plans to ramp up its 280-member workforce by 20% in the next two years to support the expected increase in launches.
So, the next large fundraising round, the Series C round, will probably be in 2024 end," Chandana said.
Persons:
Dado Ruvic, Pawan Kumar Chandana, Chandana, GIC, Rishika Sadam, Nivedita Bhattacharjee, Dhanya Ann Thoppil
Organizations:
REUTERS, Rights, Skyroot Aerospace, Reuters, Indian Space Research, Thomson
Locations:
Hyderabad, India