A Dream Under Threat
In 2018, two former ISRO scientists, Pawan Kumar Chandana and Naga Bharath Daka, started Skyroot Aerospace with a vision that seemed audacious: to build India's first private company capable of launching orbital rockets. They took a leap of faith, leaving
stable government jobs to venture into a sector not yet fully open to private enterprise. Their passion convinced Myntra and Cult.fit founder Mukesh Bansal, who became their first and, for a time, only angel investor. But just as they were building momentum, the COVID-19 pandemic hit, bringing lockdowns, supply chain disruptions, and a chilling effect on funding. For a capital-intensive, hardware-focused startup like Skyroot, the crisis posed an existential threat. The biggest risk was not just financial, but human: losing the highly specialized team of rocket engineers they had painstakingly assembled.
More Than Just a Cheque
During the uncertainty of the pandemic, Mukesh Bansal’s role evolved from early investor to critical mentor. While other investors might have pulled back, Bansal stepped up. He provided an additional ₹2 crore specifically to ensure that Skyroot could retain its team as money tightened. This intervention was about more than just capital; it was a vote of confidence that stabilized the company when it was most vulnerable. Bansal's support was a form of 'patient capital,' a long-term belief in the company's vision, even when the path forward was unclear. His guidance helped the founders navigate the crisis, focusing on preserving their most valuable asset: their people.
Keeping the Rocket Scientists
In the world of deep tech, talent is everything. Building a rocket requires a unique blend of expertise that is difficult to find and impossible to quickly replace. Losing even a few key engineers could have set Skyroot's ambitious timeline back by years. The pandemic created immense pressure, but Bansal's support allowed the leadership to focus on keeping the team motivated and secure. This decision to prioritize human capital over short-term financial savings was a strategic masterstroke. It ensured that once lockdowns eased, the team could hit the ground running without the delays of rehiring and retraining. The extra time also allowed them to make design improvements, ultimately yielding time and cost benefits down the line. This focus on team retention fostered a sense of loyalty and shared purpose that would become the bedrock of their future success.
The Payoff: From Survival to Soaring
The strategy paid off spectacularly. With its core team intact, Skyroot continued its work, and in November 2022, it made history by launching Vikram-S, India's first privately built rocket to reach space. This was followed by the even more significant launch of the orbital-class Vikram-1 on July 18, 2026, cementing Skyroot's place as a pioneer in India's private space industry. These achievements, once just an audacious dream, were a direct result of the team that was held together during the pandemic. The company has since become India's first spacetech unicorn, valued at over $1 billion. For Bansal, the early, risky bet has generated extraordinary returns, with his initial investment of around ₹12 crore now valued at a figure approaching ₹700 crore.
A Lesson in Startup Mentorship
The story of Mukesh Bansal's support for Skyroot is more than just a successful investment. It serves as a powerful case study for the Indian startup ecosystem on the value of 'smart money'—investment that comes with genuine mentorship, strategic guidance, and unwavering belief. Bansal’s decision to back Skyroot was made even before the Indian government had formally liberalized the space sector in 2020. His support was not just financial; it was foundational. By providing the crucial funds to preserve the team during a crisis, he safeguarded the company's soul and its capacity to innovate. It demonstrates that for high-risk, deep-tech ventures, the right kind of investor-mentor relationship can be the critical factor that separates a brilliant idea from a history-making enterprise.
