The Message That Launched a Dream
In 2018, Pawan Chandana and his co-founder Naga Bharath Daka, both former scientists at the Indian Space Research Organisation (ISRO), had a bold vision: to build rockets privately in India and open up space for all. They had the technical expertise but
lacked two crucial things: a business background and investor connections. With no formal policy for private space ventures in India at the time, their idea was audacious. Undeterred, Chandana took to LinkedIn and sent a direct message to Mukesh Bansal, the serial entrepreneur behind Myntra and CureFit. It was a shot in the dark, a digital cold call that would change the trajectory of India’s private space industry forever.
From ISRO Scientists to Startup Founders
Chandana and Daka were not your typical entrepreneurs. Having spent years at ISRO, the pinnacle of India's space program, they were deeply embedded in the world of rocket science. But they saw an opportunity beyond government-led missions. They envisioned a future where launching small satellites could be as common and cost-effective as booking a flight. This led them to leave their stable government jobs and found Skyroot Aerospace in Hyderabad. Their mission was clear: to develop a series of launch vehicles, named 'Vikram' after the father of India's space program, Dr. Vikram Sarabhai, to cater to the growing global demand for small satellite deployment.
The Investor Who Saw the Future
Mukesh Bansal was impressed by the passion and clarity of the ex-ISRO scientists. He responded to the LinkedIn message almost immediately, and a meeting was arranged for the same weekend. In a conversation that lasted less than an hour, Bansal saw the immense potential in their vision, even when there was no regulatory framework or proof that a private company could build an orbital rocket in India. He committed to investing ₹10 crore, becoming Skyroot’s first and most crucial backer. Chandana later reflected on this moment, stating, "The first cheque is never just capital. It is belief." This initial funding was not just money; it was the validation they needed to start building their dream.
More Than Just a LinkedIn Message
While the LinkedIn pitch is a legendary part of Skyroot’s story, it was the spark that ignited the fire, not the entire flame. The initial cheque from Bansal was instrumental, but the journey to building a billion-dollar company required relentless effort and further funding. When the COVID-19 pandemic struck, threatening to halt their progress, Bansal stepped in again with an additional ₹2 crore to ensure the team could stay together. Over the years, Skyroot attracted a string of high-profile investors, including Singapore's sovereign wealth fund GIC and global investment giant BlackRock. The company methodically hit its milestones, including the landmark launch of Vikram-S in 2022, India's first privately built rocket.
Rewriting the Rules of Fundraising
Skyroot's origin story has become a powerful case study for a new generation of Indian entrepreneurs. It demonstrates a significant shift in the startup ecosystem, where a strong vision and direct communication can sometimes bypass traditional, lengthy fundraising routes. For founders in deep-tech sectors, who often struggle to find investors willing to take on high-risk, long-term projects, Chandana’s approach offers a new playbook. It underscores the power of a founder’s personal brand and their ability to articulate a compelling mission on public platforms. Skyroot’s success, now valued at over $1.1 billion and standing as India's first space-tech unicorn, proves that the right idea, pitched to the right person, can indeed reach for the stars.
