View from above

The company

NearSpace Labs was founded in 2017 by Rema Matevosyan, Ignasi Lluch, and Albert Caubet. Matevosyan is an applied mathematician by training and previously worked as a programmer.

Four years after launch, the company has closed a $13 million Series A round led by Crosslink Capital, with Toyota Ventures and existing investors Leadout Capital and Wireframe Ventures participation. 

Technology

The robotic devices that attach to the balloons are manufactured at the company's workshop in Brooklyn. Then they are shipped anywhere on the globe in a small suitcase versus having to build a satellite that requires delivery via rocket and operation by highly trained engineers. With a few videos and a manual, it is easy to train new people to launch the device. That brings considerable savings versus the space-based competition.

Swifty is basically a sophisticated camera attached to a balloon. Short-duration flights can capture up to 270 square miles of imagery at 30 cm per pixel resolution in a single pass. 

Swifty also can go up frequently, making trips twice per day, and provide quick turnaround times for processed images. It compares to long potential waits for imaging from satellites based on orbital schedules, ground station transmission times, and other factors. 

The company also does not need to have specific launch sites — Swifties can launch from anywhere at any time.

Future

The main value proposition of the Swifty, as opposed to the satellite, is the resolution. The company can collect resolutions that are 50 times better than what you would get from a satellite. 

Swifties also have a plug-and-play model compared to a satellite fleet in orbit, where it is not easy to add a new sensor.

Near Space has booked more than 540 flights through 2022. While customers pay for the flights, the data generated from each trip is non-exclusive. So the team can sell the data again and again. 

The company will be using the funds to expand its geographical footprint and bring on new hires. The goal, according to Matevosyan, is to democratize access to geospatial intelligence — not just for customers but on the developer side too.

Tech for Good

💡 Article on TechCrunch

🌐 NearSpace Lab website