SatLeo Labs recently closed a $3.3 million (Rs 28 crore) pre-seed funding round led by Merak Ventures, with Huddle Ventures as a major investor and additional participation from GVFL, Java Capital, IIMA Ventures, Point One Capital and several angel investors. The thermal imaging satellite startup said it has already secured over $25 million in letters of intent from potential clients.
Following closely, PierSight announced a $2 million (Rs 17 crore) funding round from Crescent Enterprises Ventures, Sustainable Ocean Alliance and Seabird Ventures, bringing its total investment to $8 million among the largest initial investments for Indian spacetech startups. The synthetic aperture radar (SAR) company had its payload aboard ISRO’s PSLV C60 SpaDeX mission earlier this year. The third player, Orbitt Space, launched in 2025 by former Isro scientists Christopher Parmar and Anupam Kumar, is currently in the process of raising funds for its ultra-low Earth orbit (ULEO) satellite propulsion technology.
These three spacetech startups are connected by two factors, besides being based in Ahmedabad they all have co-founders with experience from Isro’s Space Applications Centre (SAC) in the city and they are incubated at IIMA Ventures.
