A Major Seed Round to Accelerate Space Innovation

Ahmedabad-based spacetech startup SatLeo Labs has raised $2.2 million (≈₹18 crore) in a seed funding round led by Unicorn India Ventures. The round also saw participation from Merak Ventures, Java Capital, IIMA-CIIE, and deeptech investor Manish Gandhi.

With this, the startup’s total funding has reached $5.5 million, reflecting strong investor confidence in India’s emerging spacetech ecosystem.

Meet the Founders Behind the Mission

SatLeo Labs was founded in 2023 by Shravan Bhati, Ranendu Ghosh, and Urmil Bakhai.

The founding team brings deep expertise in satellite systems, thermal sensing, and AI-driven geospatial analytics. Their mission is clear: to build a constellation of satellites capable of capturing high-resolution thermal and visible data from Low Earth Orbit (LEO) and convert it into actionable intelligence.

What Makes SatLeo Labs Unique

Unlike traditional satellites, SatLeo Labs focuses on thermal imaging technology, which captures heat signatures instead of just visual images. This enables real-time insights even in challenging conditions like darkness, smoke, or cloud cover.

The startup has already developed its first experimental thermal payload, TAPAS-1, achieving TRL-8 (Technology Readiness Level)—a major milestone indicating near launch readiness.

This technology has applications across:

• Climate monitoring
• Agriculture optimization
• Disaster management
• Urban heat tracking

Real-World Impact Already Underway

SatLeo Labs is not just building for the future, it is already creating impact. The company is working with local authorities like the Ahmedabad Municipal Corporation to support Heat Action Plans, helping predict and manage urban heat risks.

Additionally, the startup has built a strong commercial pipeline with over $42 million in Letters of Intent (LOIs), indicating strong demand for its thermal intelligence solutions.

What’s Next: Scaling to Space

With fresh funding, SatLeo Labs plans to:

• Accelerate its thermal satellite mission
• Deploy a constellation of satellites
• Expand its AI-powered thermal intelligence platform

CEO Shravan Bhati emphasized that the goal is to deliver scalable, real-time thermal intelligence globally, especially in a world increasingly impacted by climate change and extreme heat conditions.

India’s Spacetech Moment

SatLeo Labs represents a new wave of Indian deep-tech startups building not just software—but real space hardware and global-scale solutions. As private participation in space grows, such startups are positioning India as a serious player in the global space economy.

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