Hyderabad: Hyderabad-based Skyroot Aerospace successfully test-fired an upper-stage rocket engine, becoming the first privately-owned Indian firm to demonstrate the capability to build a homegrown rocket engine.
Meanwhile, the company is planning to raise around Rs 90 crore.
Founded by Pawan Kumar Chandana and Naga Bharath Daka, both former scientists at the Indian Space Research Organisation (Isro), Skyroot plans to build a family of rockets.
The first rocket, which can hurl satellites of 250-700 kgs into a lower earth orbit, is expected to be launched by end-2021. This is a major milestone for us in a path towards our first launch targeted for December 2021, said Daka, Co-Founder & COO, Skyroot Aerospace.