India News | Space Startup SatLeo Labs Raises USD 3.3 Million in Pre-seed Funding
Get latest articles and stories on India at LatestLY. Ahmedabad-based space startup SatLeo Labs, which plans to launch a thermal imaging satellite to boost its earth observation capabilities, on Wednesday announced raising USD 3.3 million in pre-seed funding.
New Delhi, Apr 30 (PTI) Ahmedabad-based space startup SatLeo Labs, which plans to launch a thermal imaging satellite to boost its earth observation capabilities, on Wednesday announced raising USD 3.3 million in pre-seed funding.
The funds will be utilised to advance the development of its proprietary thermal imaging payload, conduct critical feasibility studies, and secure regulatory approvals.
"We are pioneering a dual-band, high-resolution thermal payload designed for fused multispectral imaging - empowering sustainable solutions across agriculture, environmental conservation, climate-resilient urban planning, and strategic defence," Ranendu Ghosh, Co-founder & CTO of SatLeo Labs, said in a statement here.
The funding round was led by Merak Ventures, with Huddle Ventures participating as a major investor, alongside GVFL, Java Capital, IIMA Ventures, PointOne Capital, and angel investors Manish Gandhi and Dheer Baldua.
SatLeo Labs claimed to have garnered strong industry interest, securing over USD 25 million in Letters of Intent from potential clients.
The capital will help the startup to expand its team, build infrastructure, and pilot testing to validate its technology and strengthen industry partnerships.
"Each 1 degree celsius rise in temperature can reduce global GDP by up to 10 per cent. Our thermal data helps detect risks before they turn into billion-dollar losses -- from crop failures to wildfires. At SatLeo, we're transforming space data into real-world resilience," said Shravan Bhati, Co-founder & CEO of SatLeo Labs.
"Earth Observation (EO) data is projected to exceed USD 700 billion by 2030, contributing USD 3.8 trillion to global GDP. Beyond economics, thermal EO can help cut 2 gigaton of GHG emissions annually and drive nature-positive action," said Urmil Bakhai, Co-founder and CSO of SatLeo Labs.
"We're backing them for a genuine tech breakthrough that makes thermal data more useful, accessible and affordable. Just as importantly, they bring a rare combination of deep tech expertise and real-world application insights," said Sheetal Bahl, Partner at Merak Ventures.
SatLeo Labs aims to launch its first thermal imaging satellite in the near future, further solidifying India's position as a leader in commercial space technology, the company said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)