Indian startup SatLeo Labs raises $3.3 million to transform India's space economy

SatLeo Labs, a spacetech startup focused on capturing high-resolution thermal & visible data from Low Earth Orbit (LEO), has secured $3.3 million in a pre-Seed funding round, which was led by Merak Ventures, with Huddle Ventures participating as a major investor, alongside GVFL, Java Capital, IIMA Ventures, PointOne Capital, and angel investors Manish Gandhi and Dheer Baldua.

The startup said the latest investment marks a significant milestone in its mission to transform earth observation through thermal imaging technology.

What does SatLeo Labs do?

SatLeo Labs is an Ahmedabad-based spacetech startup pioneering thermal and optical imaging from Low Earth Orbit (LEO). By harnessing advanced satellite technology, the startup delivers high-impact insights to drive sustainable innovation across agriculture, urban infrastructure, energy, climate monitoring, and national security.

"Each 1°C rise in temperature can reduce global GDP by up to 10%. Our thermal data helps detect risks before they turn into billion-dollar losses — from crop failures to wildfires. At Satleo, we're transforming space data into real-world resilience," said Shravan Bhati, Co-founder & CEO of SatLeo Labs.

Purpose of fundraising

SatLeo will be using the raised capital to advance the development of its proprietary thermal imaging payload, conduct critical feasibility studies, and secure regulatory approvals. Additionally, the capital will support team expansion, infrastructure setup, and pilot testing, enabling the startup to validate its technology and strengthen industry partnerships, the release notes.

"This funding underscores the growing confidence in our vision to position India as a global leader in space-based intelligence by delivering cost-effective and reliable solutions," Bhati added.

Urmil Bakhai, another co-founder and CSO of SatLeo, said Earth Observation (EO) data is projected to exceed $700 billion by 2030, contributing $3.8 trillion to global GDP. Beyond economics, he said, thermal EO can help cut 2 Gigaton of GHG emissions annually and drive nature-positive action.

“We are pioneering a dual-band, high-resolution thermal payload designed for fused multispectral imaging - empowering sustainable solutions across agriculture, environmental conservation, climate-resilient urban planning, and strategic defence,” said Dr. Ranendu Ghosh, Co-founder & CTO of SatLeo Labs."

Investor comments

"Our investment in SatLeo Labs is rooted in a clear thesis - thermal imagery from space is still vastly underutilised, and its commercial applications are only set to grow in ways we may not yet fully grasp," said Sheetal Bahl, Partner at Merak Ventures.

"We're backing them for a genuine tech breakthrough that makes thermal data more useful, accessible and affordable. Just as importantly, they bring a rare combination of DeepTech expertise and real-world application insights,” said Sheetal Bahl, Partner at Merak Ventures. SatLeo Labs aims to launch its first thermal imaging satellite in the near future, further solidifying India's position as a leader in commercial space technology while targeting global markets," Bahl added.

SatLeo Labs claims it has garnered strong industry interest, securing over $25 million in Letters of Intent (LOIs) from potential clients. The startup also has a team of experienced professionals, including former ISRO scientists, and collaborations with ISRO and IN-SPACe.