SatLeo Labs Raises $3.3 Million to Advance India's SpaceTech Innovation
Ahmedabad-based spacetech startup SatLeo Labs has raised $3.3 million (INR 28 crore) in its first Pre-Series A funding round. Merak Ventures led the investment.
The funding round also attracted Huddle Ventures, GVFL, Java Capital, IIMA Ventures, PointOne Capital, and several prominent angel investors.
SatLeo Labs was founded in 2023 by Shravan Bhati, Urmil Bakhai, and Ranendu Ghosh. The startup is developing a proprietary thermal imaging payload for Low Earth Orbit (LEO) satellites.
The technology captures thermal and optical data from space. As a result, it supports industries such as precision agriculture, climate monitoring, disaster management, and defence surveillance. It also creates new commercial opportunities through advanced infrared analysis.
How SatLeo Labs Will Use the New Funding
The company will use the fresh funding to accelerate research and development. It will also strengthen its infrastructure and complete pilot testing of its patented thermal imaging payload.
Additionally, SatLeo Labs plans to commercially launch its first product early next year.
Looking ahead, the startup aims to develop and launch its own satellites. This strategy will allow the company to provide Thermal Imaging-as-a-Service (TIaaS) to governments and businesses.
Commenting on the investment, Sheetal Bahl, Partner at Merak Ventures, said:
“Space thermal imaging remains largely untapped, and commercial uses are only going to expand in directions we might not yet fully understand. We’re supporting SatLeo for an actual tech innovation that makes thermal information more valuable, accessible, and affordable.”
What This Investment Means for India's SpaceTech Ecosystem
The investment comes at an important time as the Government of India continues strengthening the country’s deep-tech ecosystem.
Meanwhile, global demand for space-based analytics continues to grow. SatLeo Labs has already secured $25 million worth of Letters of Intent (LoIs) from potential customers. This strong response highlights early market confidence in the company’s technology.
CEO Urmil Bakhai said:
“This round marks our first step in building a thermal imaging ecosystem from space. With pilot testing around the corner, we’re focused on perfecting our payload and getting regulatory approvals in place.”
Furthermore, SatLeo Labs is emerging as a pioneer in space-based thermal analytics. The company aims to solve real-world challenges through innovative hardware solutions.
Ultimately, this investment reflects growing confidence in Indian spacetech startups. It also highlights the country’s potential to become a global leader in deep-tech innovation.