Near Space Labs, a New York-based startup announced on 20 September 2021 that it has brought  USD 13M in a Series A funding round led by Crosslink Capital.

Investors: Crosslink Capital led the current round with participation from Toyota Ventures. In addition, existing investors, including Leadout Capital and Wireframe Ventures also contributed to this round. Moreover, Phil Boyer, Crosslink Partner, joins Near Space’s Board of Directors.

The Objectives behind the funding: The startup plans to deploy the proceeds in strategic new technologies and accelerate its geographic expansion by hiring for more than a dozen roles.

About Near Space Labs

Source: Company’s LinkedIn profile.

Founded in 2017 by Rema Matevosyan, Ignasi Lluch and Albert Caubet, Near Space Labs provide timely, wide-scale, commercially available imagery with the largest zero-emission balloon fleet in the stratosphere. The Startup sells the data it collects through an API on a subscription model. The company claims that the resolutions of the information it collects are 50 times better than what someone gets from a satellite.

What the Founder has to say:

“We founded Near Space Labs because we believe that high-quality geospatial intelligence, when made accessible to everyone who needs it, has the potential to help communities, businesses, and researchers unlock ideas that can help solve humanity’s biggest challenges, including urbanization and climate change. These funds will enable us to expand the distribution of our Swiftys across the country and continue to improve the value of our service for our growing customer base,” said Rema Matevosyan, Co-Founder and CEO of Near Space Labs.

What the Investors have to say:

“At Crosslink, we love to partner with companies that are not afraid to be bold and create new categories that can make a massive positive impact on the world. Near Space Labs is a world-class team that is flipping the traditional approach to geospatial imagery on its head by collecting data from the stratosphere that is higher quality, more persistent, and more cost-effective than the status quo. We believe the value creation potential is massive for this company as a result and are excited to partner with the team on their journey,” said Phil Boyer, Partner at Crosslink Capital. “

“Our rapidly changing world poses challenges that demand deeper insights from greater data coverage. Near Space Labs aims at both with a breakthrough Earth-imaging accuracy that is smart, scalable, and affordable. Rema’s vision, approach, technology, and team captured our attention from the first meeting. The potential for their stratospheric robots is immense, and we’re thrilled to invest and support the team as they disrupt geospatial intelligence.” Jim Adler, Founding Managing Director, Toyota Ventures.

Near Space’s autonomous wind-powered high altitude platforms, Swiftys has honestly endless uses, from disaster relief efforts to city planning to monitor climate change. The startup aims to democratize access to Earth imaging.

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Manish writes about the startup ecosystem on VCBay. He is pursuing Master of Commerce from Delhi School of Economics, University of Delhi, and is passionate about the world of finance, information technology & entrepreneurship.



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