Skyroot shifts strategy: Invites investor bids for funding instead of traditional pitches
According to a Moneycontrol report, Skyroot Aerospace is asking investors to submit bids for a stake in the firm at a valuation of $2 billion. This marks an approximate 80% increase from its previous round of funding. Rather than following a standard fundraising approach, the startup is reviewing bids from investors before selecting its partners. This change in strategy comes after the successful flight of Vikram-1, which is India's first orbital launch vehicle built by a private company.
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