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Time of India

Merak Ventures leads $3.3 million funding round in space-tech startup SatLeo Labs

SatLeo Labs, Space-tech startup SatLeo Labs has raised USD 3.3 million in its pre-seed funding round. The 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. Tired of too many ads? go ad free now The funds will be utilised to advance the development of its proprietary thermal imaging payload, conduct critical feasibility studies, and secure regulatory approvals. Additionally, the capital will support team expansion, infrastructure setup, and pilot testing, enabling the startup to validate its technology and strengthen 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. At Satleo, we're transforming space data into real-world resilience,' said Shravan Bhati, Co-founder & CEO of SatLeo Labs. 'This funding underscores the growing confidence in our vision to position India as a global leader in space-based intelligence by delivering cost-effective and reliable solutions.' SatLeo Labs has already garnered strong industry interest, securing over $25 million in Letters of Intent (LOIs) from potential clients. With its experienced team, including former ISRO scientists, and collaborations with ISRO and IN-SPACe, the company is well-positioned to disrupt the geospatial analytics sector with its cutting-edge thermal imaging solutions . 'Our investment in SatLeo Labs is rooted in a clear thesis - thermal imagery from space is still vastly underutilised, and its commercial applications are only set to grow in ways we may not yet fully grasp. Tired of too many ads? go ad free now 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 DeepTech 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 while targeting global markets.