Ready to revolutionize the way Earth is observed from space, Ahmedabad’s spacetech startup SatLeo Labs has secured $3.3 million (INR 28 Cr) in its first Pre-Series A funding round that was led by Merak Ventures.
The funding round also featured participation from Huddle Ventures, GVFL, Java Capital, IIMA Ventures, PointOne Capital, and a host of leading angel investors.
SatLeo Labs, which was founded in 2023 by Shravan Bhati, Urmil Bakhai, and Ranendu Ghosh, is building a proprietary thermal imaging payload that takes high-impact thermal and optical information from Low Earth Orbit (LEO).
The information will be applicable for industries for precision agriculture, climate monitoring, disaster management, and defence surveillance, opening new commercial and strategic value from infrared radiation analysis.
The newly invested funds are targeted at speeding up research and development, continuing to develop infrastructure, and speeding up pilot testing to confirm their key technology. The company is in production of its patented payload and will commercially launch its first product in early next year.
With a clear long-term vision, the SatLeo team also aims to develop and launch their satellites, allowing them to provide thermal imaging-as-a-service to governments and businesses at scale.
Commenting on the investment, Sheetal Bahl, Partner at Merak Ventures, added:
“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 them [SatLeo] for an actual tech innovation that makes thermal information more valuable, accessible, and affordable.”
The investment arrives at a crucial moment when the government of India is working towards beefing up India’s deeptech ecosystem. With increased demand for space-based analytics emerging in the world as well as nationally, SatLeo Labs has received $25 million worth of Letters of Intent (LoIs) from potential customers – a positive signal of market fitness early on.
CEO Urmil Bakhai informed Inc42:
“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.”
As deeptech picks up pace in India, SatLeo’s innovation makes it a pioneer in space-based thermal analytics.
This investment is not merely a vote of confidence in their visionit’s an indication of fresh belief in Indian spacetech startups to drive hardware-led innovation to address real-world challenges.