Insider Brief
- SatLeo Labs, a space-tech startup, has raised $3.3 million in pre-seed funding led by Merak Ventures, with contributions from Huddle Ventures, GVFL, Java Capital, IIMA Ventures, PointOne Capital, and angel investors Manish Gandhi and Dheer Baldua.
- The funding will be utilized to advance SatLeo’s proprietary thermal imaging technology for predicting economic and environmental risks, supporting feasibility studies, team growth, infrastructure development, and pilot testing.
- With over $25 million in potential contracts and collaborations with ISRO and IN-SPACe, SatLeo Labs aims to launch its first thermal imaging satellite soon, positioning India prominently in the global geospatial analytics market.
Space-tech startup SatLeo Labs has secured $3.3 million in pre-seed funding, aiming to change how thermal imaging from satellites is used to predict and mitigate economic and environmental risks worldwide.
The Times of India reports the funding round was led by Merak Ventures and included significant investment from Huddle Ventures, GVFL, Java Capital, IIMA Ventures, PointOne Capital, and angel investors Manish Gandhi and Dheer Baldua. The funds will support SatLeo Labs in advancing its proprietary thermal imaging technology, conducting feasibility studies, and obtaining necessary regulatory approvals. Additionally, the company plans to expand its team, enhance its infrastructure, and carry out pilot tests to validate its technological solutions and bolster industry partnerships.
“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,” Shravan Bhati, Co-founder & CEO of SatLeo Labs, said to The Times of India.
The startup has already attracted significant industry attention, accumulating over $25 million in Letters of Intent (LOIs) from potential clients, showcasing robust market interest and confidence in their thermal imaging solutions. With a highly skilled team comprising former Indian Space Research Organisation (ISRO) scientists and established collaborations with ISRO and the Indian National Space Promotion and Authorization Centre (IN-SPACe), SatLeo Labs is strategically positioned to make impactful contributions to the geospatial analytics market.
“We’re backing them for a genuine tech breakthrough that makes thermal data more useful, accessible and affordable,” Sheetal Bahl, Partner at Merak Ventures is quoted as saying.
The startup’s immediate goal is to launch its first dedicated thermal imaging satellite in the near future. This mission will enhance India’s role in the commercial space sector, positioning the nation as a global leader in providing innovative, cost-effective satellite technologies aimed at worldwide markets.
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