Funding · Government, Defense & Space
SatLeo Labs raises $2.2 million seed round
By Startup Enthusiast ·
- Date
- Company
- SatLeo Labs
- What it does
- Satellite thermal intelligence provider
- Kind
- Funding
- Amount
- $2.2 million
- Stage
- seed
- Based in
- Ahmedabad
- Founded
- 2023
What they do
SatLeo Labs builds satellites that capture thermal and visible data from low Earth orbit
What happened
It raised $2.2 million in seed funding led by Unicorn India Ventures, with participation from Merak Ventures, Java Capital, IIMA-CIIE, and Manish Gandhi
Why it matters
The company has over $42 million in letters of intent and grew its team from 8 to about 30 members
The details
- SatLeo Labs raised $2.2 million in seed funding.
- The round was led by Unicorn India Ventures.
- Participating investors included Merak Ventures, Java Capital, IIMA-CIIE (IIMA Ventures), and Manish Gandhi.
- The company has raised a total of $5.5 million to date.
- It previously raised a $3.3 million pre-Seed round led by Merak Ventures in 2025.
- SatLeo Labs developed its first experimental thermal payload TAPAS-1, which achieved TRL-8 readiness and is prepared for satellite integration.
- The company ran pilot projects for urban heat and air pollution monitoring in Ahmedabad and Tumakuru, impacting over 400,000 citizens.
The bigger picture
- Indian spacetech funding nearly doubled to $157 million in 2025 from $81 million in 2024.
- India now has over 200 private spacetech companies.
- SatLeo Labs' letters of intent grew from about $15 million to over $42 million within a year.
About the business
- SatLeo Labs builds satellites that capture thermal (infrared) and visible data from low Earth orbit.
- It uses an AI-powered platform to translate raw satellite data into actionable thermal intelligence.
- Its applications include defence, agriculture, urban planning, climate monitoring, and disaster response.
- The company is headquartered in Ahmedabad.
- It has a team of about 30 members, up from 8.
What happens next
- Advance its flagship thermal satellite mission.
- Develop its AI-powered platform further.
- Achieve satellite launch readiness.
- Expand commercial partnerships.
- Scale thermal data and AI capabilities.
The deal
- Type
- seed
Investors
- Unicorn India Ventures (lead)
- Merak Ventures (participated)
- Java Capital (participated)
- IIMA-CIIE (IIMA Ventures) (participated)
- Manish Gandhi (participated)
Founders
- Shravan Bhati, co-founder & CEO
- Urmil Bakhai, co-founder
- Ranendu Ghosh, co-founder
About SatLeo Labs
- Customers
- Governments and enterprises needing thermal intelligence and satellite data
- How it makes money
- Provides satellite-based thermal intelligence and AI-powered analytics as a platform and data service
- What sets it apart
- Combines thermal and visible imaging from low Earth orbit into a multispectral platform
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