Skyroot eyes up to $200 million raise for business expansion

Hyderabad-based space-tech startup Skyroot Aerospace is looking to raise $150-200 million (Rs 1,800 crore) to fund the next phase of its expansion, according to people familiar with the matter. The proposed transaction could value Skyroot at close to $1 billion.

The company, backed by Singapore’s sovereign investors GIC and Temasek, has appointed Kotak Mahindra Capital to advise on the sale of a minority stake. Several global and domestic funds have already been sounded out, said people with knowledge of the matter.