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Near Space Labs nabs $20M to take its high-res imaging Swift robots into the stratosphere
- Near Space Labs has secured $20 million in funding to further develop its high-resolution imaging technology using Swift robots that float into the stratosphere using helium balloons.
- The funding round was led by Bold Capital Partners, with participation from USAA, Climate Capital, Gaingels, River Park Ventures, and other existing backers, bringing the total raised by Near Space to over $40 million.
- The company's founders, Rema Matevosyan, Ignasi Lluch, and Albert Caubet, all have backgrounds in space and physics technology and research.
- Near Space was born out of a collaboration between the Skolkovo Institute in Russia and MIT, with the founders later moving to the U.S. for opportunities like the Urban-X accelerator program.
- Despite the closure of the Skolkovo-MIT partnership and Urban-X accelerator, Near Space continues to grow and expand its operations from the U.S.
- By capturing high-resolution imagery from the stratosphere using Swift robots, Near Space has found traction with customers in sectors like insurance, aiding in disaster tracking.
- The company aims to cover 80% of the U.S. population twice a year with its 7cm imagery, offering faster and more accurate results compared to drone or satellite imaging.
- Near Space plans to customize coverage plans for different sectors, potentially expanding beyond insurance into areas like agriculture.
- While military usage is a potential market, Near Space is currently focused on commercial applications given its Swift technology's versatility and cost-effectiveness.
- Investors see value in Near Space's low-cost aerial imaging technology, particularly as AI applications require high-quality and timely data.
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