India took a big hit in its space sector, when Hyderabad-based Skyroot Aerospace launched Vikram-1, the country’s first privately built rocket, from the Satish Dhawan Space Center in Sriharikota. The project, called Mission Aagaman, invested in technology demonstrations from Indian and international customers to Low Earth Orbit, as well as symbolic payments including a handwritten “Vande Mataram” postcard from Prime Minister Narendra Modi, postcards of scientists and astronauts, and installation of miniatures.Ahead of the launch, Skyroot Aerospace CEO and co-founder Pawan Kumar Chandana described the project as a pivotal moment in India’s aerospace industry. “Today, we are here at the Spaceport of India, Sriharikota, where we will launch India’s first orbital rocket. The first time in India that a private company has developed an orbital rocket and taken it to the launch pad and it will take off soon. It is a proud moment for India,” said Chandana.He said, “Very few companies in the world have actually launched a rocket for launch, and very few companies in the world are using orbital rockets regularly. This is a unique opportunity that the world needs. As an Indian company, we are very proud to launch our first test flight Vikram-1 very soon.”Behind this success is a journey that began with academic challenges and eventually led Chandana from the classrooms of Hyderabad to the Indian space program and, later, to build one of the leading space companies.
From math problems to IIT Kharagpur
Born in Hyderabad in 1991, Chandana’s school years did not foretell a future in rocket science. He once scored a 51 in math, a subject that would later become important in his engineering career.Encouraged by his father, he enrolled in an IIT entrance exam. This experience gradually changed his approach to mathematics, helping him qualify IIT Kharagpur in his first attempt.In 2007, Chandana joined IIT Kharagpur, where she pursued a dual B.Tech-M.Tech program in Mechanical Engineering. While many of his peers opted for corporate careers, Chandana chose to pursue an interest in aerospace technology.
Rocket building at ISRO
After graduation, Chandana joined the Indian Space Research Organization (ISRO) in 2012. For about six years at the Vikram Sarabhai Space Center in Thiruvananthapuram, he worked on the GSLV Mk-III program, the S-200 solid rocket booster and later became a project assistant for the Small Satellite Launch Vehicle.His contributions earned him an internal innovation award in 2016. However, Chandana also began exploring the possibility of starting a private equity firm, although there was no plan for private equity at the time.
Business development
In 2018, Chandana resigned from ISRO and founded Skyroot Aerospace with former ISRO engineer colleague Naga Bharath Daka.Starting a space technology company brought financial difficulties. Chandana contacted businessman Mukesh Bansal through LinkedIn, seeking help. Bansal invested US$ 1.5 million in the project. During the outbreak, additional support came from the founders of Greenko, which allowed Skyroot to continue its development plans.The company also achieved another milestone in 2020 by successfully testing the Raman-1 engine, becoming the first Indian private company to test a rocket engine.
The rise of Skyroot in a special part of India
Following the opening of India’s space sector to the private sector in 2021, Skyroot signed an agreement with ISRO and raised US$51 million in what was then India’s largest fundraising campaign.In November 2022, the company launched Vikram-S, India’s first privately developed rocket under Mission Prarambh.The successful launch of Vikram-1 now places Skyroot among a small group of private companies worldwide capable of developing and launching orbital rockets.
Corporate accounting is the future
Skyroot Aerospace was valued at approximately US$ 1.1 billion after acquiring US$ 60 million in May 2026. Although Chandana did not publicly disclose his net worth, his net worth is closely related to the company’s value.With Vikram-1 well on its way, Chandana’s journey reflects the rapid growth of India’s information sector – from a student struggling with maths to leading one of the country’s most important commercial missions.