Spacetech startup SatLeo Labs bags seed funding led by Unicorn India Ventures
06 Apr 2026, 11:55 AMThe funding round saw participation from Merak Ventures, Java Capital, IIMA-CIIE, and investor Manish Gandhi.
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Spacetech startup SatLeo Labs has raised $2.2 million in its seed funding round led by Unicorn India Ventures.
The funding round saw participation from Merak Ventures, Java Capital, IIMA-CIIE, and investor Manish Gandhi.
The startup will use the fresh capital to boost its thermal satellite mission and strengthen its AI-powered platform for thermal intelligence applications.
SatLeo Labs, which was founded by Shravan Bhati Ranendu Ghosh and Urmil Bakhai in 2023, specializes on capturing detailed heat images of Earth using satellites in low Earth orbit. They develop microsatellites with dual-band thermal sensors (MWIR/LWIR) to detect temperature variations, providing actionable insights for agriculture, urban planning, and climate monitoring.
In April last year, the company had raised $3.3 million in its pre-seed funding round led by Merak Ventures.
According to an EY report, India's space economy was expected to touch $13 billion in 2025.
In 2023, India’s space sector hit a funding peak of $130.2 million, a 32.9% rise from 2022. However, in 2024 investment in the sector fell by 55% in 2024 to $59.1 million, according to Tracxn. The decline came even as the government last year approved a Rs 1000 crore fund to invest in space tech startups.
In November last year, Agnikul Cosmos raised $17 million at $500 million valuation.
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