Skyroot Aerospace, an Indian aerospace business sponsored by Singapore’s GIC, intends to launch a satellite into orbit in 2023. According to the start-founders, up’s they anticipate charging half as much to launch the satellite as larger, more established corporations.
On November 18, the Hyderabad-based firm and ISRO worked together to launch India’s first private rocket from Sriharikota’s Satish Dhawan Space Center. The business has spoken to more than 400 potential clients and will use the $68 million it raised in the next two launches.
Skyroot, which successfully launched a test rocket last week, anticipates lowering launch costs by 50% compared to those of well-known rivals like Richard Branson’s Virgin Orbit and California-based Rocket Lab USA Inc.
One of Skyroot’s two cofounders, Pawan Chandana, predicted a spike in demand for the company’s launch services if the launches planned for next year go well.
The majority of these clients have been developing constellations, and they will launch them within the following five years, he continued.
Investors now have more faith in Skyroot and other start-ups because of efforts by Prime Minister Narendra Modi’s administration to increase India’s share of the global space launch market from its current low of 1%.
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