Spacetech startup SatLeo Labs has secured $2.2 Mn (about ₹20.5 Cr) in its seed funding round, led by Unicorn India Ventures, with participation from existing investors Merak Ventures, Java Capital, IIMA-CIIE, and others.
The startup intends to allocate the new funds to advance its flagship thermal satellite mission and further develop its AI-powered platform designed for thermal intelligence applications.
With this latest round, SatLeo Labs’ total funding has reached $5.5 Mn, including a previous $3.3 Mn pre-Series A funding round led by Merak Ventures in 2025.
SatLeo Labs has announced plans to strengthen its space-based thermal intelligence capabilities over the next year, with a focus on achieving satellite launch readiness, expanding its commercial reach, and scaling its underlying technology.
Founded in 2023 by Shravan Bhati, Urmil Bakhai, and Ranendu Ghosh, SatLeo Labs specializes in building satellites capable of capturing both thermal and visual imagery of Earth. This capability supports real-time tracking of climate changes, farming conditions, disaster monitoring, and defense activities.
Based in Ahmedabad, the startup utilizes its proprietary technology to gather data from low Earth orbit (LEO). Its satellites are engineered to detect heat signals from space, which aids in monitoring crop health, temperature increases, wildfire risks, weather patterns, and supports defense surveillance efforts.
The startup reported significant growth over the past year in technology development, team expansion, and commercial traction. The team has grown from 8 to 30 members, including engineers and researchers specializing in satellite missions, thermal sensing, and AI-driven geospatial analytics.
SatLeo claims to have developed and delivered its first experimental thermal payload, TAPAS-1, within six months, achieving TRL-8 readiness and preparing it for launch. The company has also initiated pilot projects for urban heat and air pollution monitoring in Ahmedabad and Tumkur, impacting over 4 Lakh citizens.
The company’s commercial pipeline has expanded, with letters of intent increasing to over $42 Mn from approximately $15 Mn within the year.
SatLeo Labs faces competition from companies such as PierSight, GalaxEye, and SatSure in India’s spacetech sector.
This funding development occurs amidst increasing investment in the spacetech sector both in India and globally, with a noticeable shift towards commercial applications such as Earth observation satellites and satellite communications, driven by rising demand for satellite data and analytics.
In 2025, funding in the Indian spacetech sector nearly doubled to $157 Mn from $81 Mn the previous year. Currently, India hosts more than 200 private spacetech companies engaged in satellites, launch vehicles, communications infrastructure, and downstream data services, as global demand for cost-efficient and reliable space technologies continues to increase.
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