India’s Skyroot Aerospace readies country’s first private orbital rocket launch

(Reuters) - Indian space startup Skyroot Aerospace said on Thursday it was preparing for the launch of ​its Vikram-1 rocket, the first attempt by an ‌Indian private company to place a satellite in orbit.

Founded by former Indian Space Research Organisation engineers, Skyroot is developing ​small rockets similar to those built by ​Rocket Lab (RKLB.O), opens new tab and Firefly Aerospace (FLY.O), opens new tab.

The Vikram-1, a seven-stories-tall, ⁠multi-stage launch vehicle, is designed to carry payloads ​of up to 350 kilograms into the low ​Earth orbit.

Skyroot, which became India's first space startup to reach a $1 billion valuation after raising $60 million from GIC and Sherpalo ​Ventures in May, has set a July 12 - ​August 4 launch window for the maiden flight from the country's ‌main ⁠spaceport, the Satish Dhawan Space Centre.

The test flight, carrying a mix of domestic and international customers, aims primarily to collect in-flight performance data across propulsion, ​guidance and ​stage separation systems, ⁠the company said.

The launch comes as India opens its state-dominated space sector ​to private companies, seeking a bigger share ​of ⁠the global market for satellite launches and related services.

Industrial groups such as Larsen & Toubro and Hindustan Aeronautics Limited ⁠are ​also moving into rocket manufacturing as ​the government pushes to build a $44 billion space economy by 2033.