SatLeo Labs Raises $2.2 Mn to Scale Thermal Satellite Mission

Ahmedabad-based space tech startup SatLeo Labs has raised $2.2 million in a seed funding round led by Unicorn India Ventures, bringing its total funding to $5.5 million. The round also saw participation from Merak Ventures, Java Capital, IIMA-CIIE, and angel investor Manish Gandhi. 

The company will use the funds to advance its thermal satellite mission and develop its AI-powered platform.

Shravan Bhati, Co-founder and CEO of SatLeo Labs, said in a statement that the funding will support the company’s transition into execution, including payload improvements and satellite deployment. He previously told AIM that SatLeo will initially focus on the Indian and Middle Eastern markets before expanding to Europe and the Americas.

The startup focuses on capturing thermal and visible data from low Earth orbit. It plans to deploy capital over the next 12 months to scale its satellite capabilities, expand its commercial operations, and improve its technology stack.

SatLeo reported growth across technology, hiring, and commercial traction over the past year. Its team expanded from eight to 30 members, adding engineers and researchers with expertise in satellite systems, thermal sensing, and geospatial analytics.

The startup also designed and delivered its first experimental thermal payload, TAPAS-1, within six months of launch. The payload has reached TRL-8 readiness and is prepared for satellite integration and launch.

SatLeo is also conducting commercial pilot projects with cities such as Ahmedabad and Tumakuru. These projects focused on urban heat island mapping and air pollution monitoring, reaching over 400,000 citizens. 

The company said its pipeline of Letters of Intent grew from about $15 million to more than $42 million in a year.

Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, said the firm sees strong potential in space technology. SatLeo plans to focus on launch readiness, commercial expansion, and scaling its thermal intelligence platform over the next year. Its platform supports applications across defence, agriculture, disaster response, and urban climate monitoring.