Near Space Labs Secures $20M Funding to Launch High-Resolution Imaging Swift Robots into the Stratosphere
In the realm of high-resolution aerial imagery, most people envision satellites, drones, or aircraft capturing stunning views of our planet. However, a groundbreaking startup, Near Space Labs, is revolutionizing this concept by utilizing helium balloons to elevate its unique aircraft, offering an innovative perspective from the stratosphere.
Innovative Technology Behind Near Space Labs
Near Space Labs has developed aircraft that ascend using helium balloons, harnessing air currents to navigate and capture images from high altitudes. This approach allows the company to provide stunning aerial photography while minimizing costs associated with traditional methods. Recently, Near Space Labs secured $20 million in funding to further expand its operations.
Funding and Investor Support
The Series B funding round is led by Bold Capital Partners, founded by notable figures such as Peter Diamandis of XPRIZE fame. Other strategic investors include:
- USAA
- Climate Capital
- Gaingels
- River Park Ventures
- Previous backers like Crosslink Capital and Draper Associates
With this latest funding, Near Space Labs has raised over $40 million, including a $13 million Series A round in 2021.
Founders with a Vision
The brains behind Near Space Labs include CEO Rema Matevosyan, CTO Ignasi Lluch, and Chief Engineer Albert Caubet. Each founder has a rich background in space and physics technology:
- Rema Matevosyan grew up in a family of physicists and programmers in Armenia.
- Ignasi Lluch moved from Spain to study at the Skolkovo Institute in Moscow, where he met Rema.
- Albert Caubet also contributed his expertise in the field.
They initially connected through a joint venture between the Skolkovo Institute and MIT, which ended in February 2022 due to geopolitical tensions.
Target Markets and Future Plans
One of the primary markets for Near Space Labs is the insurance industry, which uses their imagery to assess the impact of natural disasters like hurricanes and wildfires. Major insurer USAA is among their notable customers. Currently, Near Space provides coverage for specific regions in the U.S., but the company plans to expand its reach.
Expanding Horizons
Matevosyan mentioned that the company aims to cover 80% of the U.S. population with high-resolution imagery, capturing detailed images every six months. Near Space’s technology can perform tasks in hours that would typically take 800,000 drones days or weeks to accomplish.
Additionally, the startup is exploring opportunities in other sectors, such as agriculture. Many farms have turned to drones for crop monitoring, but the method often lacks scalability and accuracy. Near Space’s solutions could provide comprehensive insights without the high costs associated with drone surveys.
Potential for Military Use
While military applications could be a significant opportunity, Near Space Labs has focused on commercial uses thus far. Matevosyan describes their Swift aircraft as “dual-use,” hinting at the versatility of their technology without committing to military contracts at this stage.
Investor Interest and Future Outlook
The demand for low-cost aerial imagery is growing across various industries, with Will Borthwick from Bold Capital noting its relevance in the age of artificial intelligence. As organizations seek timely and high-quality data, Near Space Labs stands poised to meet these needs effectively.
For more information on how Near Space Labs is changing the landscape of aerial imagery, visit their official website at Near Space Labs.
