Brooklyn startup Near Space Labs is making waves in the business and tech community with its unconventional—and surprisingly low-tech—method of taking high-resolution aerial photographs. The company just posted $20 million in Series B funding, led by Bold Capital Partners, with backing from strategic investor USAA, Climate Capital, Gaingels, RiverPark Ventures, and repeat backers such as Crosslink Capital, Third Sphere, and Draper Associates. This takes the total funding for the startup to well over $40 million, demonstrating increasing faith in its technology and vision.
At the core of Near Space Labs’ technology is Swift, a small, helium balloon-borne plane that rises into the stratosphere to take ultra-high-resolution photos of the planet below. Unlike conventional aerial platforms—airplanes, drones, or satellites—Swift does not have engines or pilots. It is completely dependent on wind currents to move, which makes it a light, low-cost, and scalable option. After a mission is finished, the platform lightly returns to Earth and can be used again.
A Sky-High Vision Born of Space Research
The company’s unorthodox methodology is a result of its unorthodox beginnings. Co-founders Rema Matevosyan (CEO), Ignasi Lluch (CTO), and Albert Caubet (Chief Engineer) are all space and physics alumni. Matevosyan, raised in Armenia in a family of scientists and programmers, met Lluch at Moscow’s Skolkovo Institute—baptized the MIT of Russia. Their common interest in tech problem-solving ultimately led them to New York, where they started Near Space Labs after participating in the Urban-X accelerator program.
From Natural Disasters to Farmlands: Real-World Applications
One of the company’s earliest successes has been through collaboration with the insurance sector, specifically with investors such as USAA. Insurance companies utilize Near Space’s high-resolution imagery to evaluate losses from wildfires, hurricanes, and other catastrophes. In Matevosyan’s view, this type of quick, dependable imaging assists insurers in better comprehending the effect of calamities, allowing for more precise claims handling and risk calculation.
But insurance is only the tip of the iceberg. Another promising industry is agriculture. Traditional drones tend to be cost- and range-constrained, and satellite photos may not have a high enough resolution. Swift, on the other hand, provides high-fidelity imaging over large areas. That makes it a perfect application for farmers seeking to track crop health, maximize yield, and react to seasonal fluctuations more effectively.
Why Swift Stands Out
Perhaps Swift’s most persuasive advantage is that it scales. Near Space Labs already operates across select areas in the U.S., but the company has ambitious plans to cover 80% of the U.S. population with 7-centimeter resolution imagery—twice a year. To put that into perspective: what Swift can do in a few hours would take thousands of drones several days to achieve. And, since the system works passively and doesn’t need special flight permits, it provides an infinitely smoother road to expansion.
Satisfying the Data Needs of the Future
To investors such as Will Borthwick, partner at Bold Capital Partners, Near Space Labs is a solution at the right time to an expanding issue: the world’s expanding requirement for low-cost, high-quality, and frequently refreshed imagery. With AI and machine learning uses booming in industries, the need for precise visual information is greater than ever. Swift’s economy and speed make it a game-changing technology for industries far beyond insurance and ag.
While Swift technology is “dual use”—i.e., could theoretically deliver small payloads for defense—Near Space Labs has deliberately avoided military uses, concentrating on commercial applications solely.
Looking Ahead
As Near Space Labs expands, its technology for stratospheric balloons could revolutionize the way we see, observe, and react to the world around us. With the integration of scientific knowledge, entrepreneurial ambition, and opportune investment, the company is set to redefine the aerial imaging sector—all the way from the edge of space.
