Founded by Shravan Singh Bhati, Ranendu Ghosh, and Urmil Bakhai, the IN-SPACe incubated startup is building a multi-spectral satellite constellation aimed at delivering high-resolution, continuous earth observation data for applications across climate monitoring, defence, agriculture, and disaster response.
“Sustainability has become imperative amid accelerating climate change, rapid urbanisation, and increasing global uncertainties driven
by heat anomalies,” Bhati said.
The Bengaluru-based company said the fresh capital will be used to advance its flagship LEO (low earth orbit) thermal satellite mission
and accelerate development of its AI-led thermal intelligence platform, which combines infrared and visible imaging.
Over the past year, the startup said it has delivered its first experimental thermal payload, TAPAS-1, achieving Technology Readiness Level-8 (TRL-8), and is preparing for flight readiness.
The company has also begun commercial pilots, including urban heat and air pollution monitoring projects with cities such as Ahmedabad and Tumkur, it said in a statement. It claims its commercial pipeline has grown significantly, with letters of intent rising from about $15 million to over $42 million.
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “We strongly believe that space is an arena where the next technological innovations and solutions will emerge from. This is our third spacetech investment. ” He added that SatLeo’s differentiated product is well positioned to drive long-term value to become a key player in the spacetech ecosystem.
Last week, Bellatrix Aerospace raised $20 million (around Rs 190 crore) led by Cactus Partners, highlighting strong investor interest in the growing deeptech sector.