Breaking
$20M Series B closed - April 2025, led by Bold Capital Partners Swift robots capture 7cm imagery from above 60,000 feet Target: image 80% of the U.S. population twice a year USAA joins as strategic investor and insurance customer One flight = up to 1,000 sq km of Earth imagery $20M Series B closed - April 2025, led by Bold Capital Partners Swift robots capture 7cm imagery from above 60,000 feet Target: image 80% of the U.S. population twice a year USAA joins as strategic investor and insurance customer One flight = up to 1,000 sq km of Earth imagery
Company Profile  /  Geospatial & Earth Observation

Near Space Labs

The Brooklyn company floating autonomous robots into the stratosphere to map the Earth at 7 centimeters - no engine, no pilot, no fuel.

Founded
2017
HQ
Brooklyn, NY
Team
~75
Funding
$40M+
Near Space Labs logo
NEAR SPACE LABS — the wordmark of a company that trades jet fuel for stratospheric wind. Imagery captured from where planes can't afford to fly.
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The Dispatch

A camera where the sky runs out

Most companies that want to photograph the Earth face the same stubborn choice. Satellites see the whole planet but from hundreds of miles up, where detail blurs and revisits are slow. Airplanes and drones see clearly but cost a great deal to fly and cover very little ground per trip. Near Space Labs, founded in 2017 and headquartered in Brooklyn, decided the answer sat in the gap between them - in the stratosphere, above 60,000 feet, roughly twice the cruising altitude of a passenger jet.

There it flies a small autonomous robot called Swift. A helium balloon lifts Swift into the thin upper air; once aloft, the craft drifts on stratospheric wind currents, points its camera down, and captures imagery of the ground below before gliding back to Earth. There is no engine and no pilot, and the flights require no special aviation license. A single Swift flight can photograph up to 1,000 square kilometers at a resolution of 7 centimeters per pixel - detail sharp enough to make out individual roof shingles, cracks in a road, or a downed power line.

The company likes to frame the scale in blunt terms: the coverage from one flight would take on the order of hundreds of thousands of drones flying for weeks to match. That claim gets at the core of the pitch. Near Space Labs is not selling a novel gadget so much as a different position in the sky, and a business built around it.

What it actually does

Near Space Labs is an Earth-imaging and geospatial-data company. It designs and operates the Swift robots, runs the flights, and processes the raw captures into what it calls analysis-ready data - orthorectified imagery that customers can drop straight into their own maps and models. The company describes its approach as an end-to-end stack, from the balloon hardware to the software pipeline that turns pixels into product.

The headline specification is that 7cm resolution, held constant across dense cities and sparse rural areas alike. Aerial-imagery providers often accept coarser detail over thinly populated regions to keep costs down; Near Space Labs pitches "no compromise" rural coverage as a differentiator. Its taglines - "Earth intelligence, at scale" and "Earth intelligence, without compromise" - lean on the idea that resolution, coverage, frequency and cost need not be a pick-two tradeoff.

"The idea of low-cost aerial imagery is valuable for many parties."

Will Borthwick, Bold Capital Partners

Who buys it

The company's earliest and largest market has been property and casualty insurance. Insurers subscribe to Near Space Labs imagery to see, quickly and in detail, what a wildfire or hurricane did to the homes and neighborhoods they cover. When a disaster strikes, the difference between imagery captured this week and imagery captured next quarter can reshape how fast claims move and how accurately damage is assessed. USAA, the insurer and financial-services group, is both a customer and a strategic investor.

Beyond insurance, Near Space Labs sells into state and local government, energy and utilities, forestry and environmental organizations, mapping-technology firms, and roofing and home-services companies. Its imagery also reaches customers indirectly through geospatial marketplaces such as UP42, which folds the high-resolution, high-recency captures into a broader catalog for infrastructure, utilities and conservation users.

The problems it solves

The underlying problem is timeliness and cost. Communities, insurers and utilities need to see the ground change - after a storm, during construction, as a forest thins - and existing options force a compromise. Satellites are frequent but coarse. Crewed aircraft are sharp but expensive and slow to schedule. Near Space Labs positions its balloons as the way to get frequent, high-resolution looks at a price that makes recurring, wide-area programs practical rather than exceptional.

Because the flights ride wind rather than burn fuel, the company also frames its service as zero-emission Earth observation, tying the product to the language of climate resilience - the ability to monitor and respond to a changing landscape without adding to the emissions that help drive the change.

How it differs

The clearest difference is altitude and propulsion. Competitors such as Vexcel Imaging, Nearmap and EagleView fly crewed aircraft; satellite firms like Planet Labs and Maxar operate in orbit; drone services work low and local. Near Space Labs is one of the few operating a fleet in the stratosphere, using unpowered, license-free craft. That choice is what lets it argue for combining wide coverage, fine resolution, high frequency and low cost at the same time, rather than trading one for another.

It is worth being measured here: aerial and satellite incumbents have far larger archives and longer track records, and Near Space Labs is still scaling its coverage. What the company offers is a distinct method and a cost structure built around it.

7cm
Imagery resolution
60k ft
Flight altitude
1,000
Sq km per flight
80%
US population target 2x/yr
Products & Services

From balloon to analysis-ready data

Flagship · 2019

Swift

Autonomous balloon-borne robot capturing up to 1,000 sq km of 7cm imagery per flight from above 60,000 feet - no engine, no pilot, no flight license.

2025

Nationwide Program

Recurring 7cm orthoimagery delivered twice yearly, expanding toward 80% of the U.S. population.

2024

Infrastructure Monitoring

High-resolution asset inspection and compliance support for utilities, energy and infrastructure operators.

2024

Environmental Monitoring

Ecosystem and forest-health tracking for conservation groups and environmental agencies.

2020

Geospatial Services

Custom capture solutions and on-demand imagery for targeted areas and specific events.

2024

Hosted Payloads

Stratospheric access for third-party sensors and instruments, with operational support.

The Operators

Three researchers, one altitude

Near Space Labs was founded by three people with backgrounds in space and physics research who met at the Skolkovo Institute in Moscow around 2017 and then joined the Urban-X accelerator in New York. Rema Matevosyan, an applied mathematician by training and a former programmer, is co-founder and CEO. Ignasi Lluch is co-founder and CTO, and Albert Caubet is co-founder and chief engineer.

The business model is B2B. Customers subscribe to recurring imagery programs or commission custom captures; the company also sells hosted-payload access and licenses data through partner platforms. Estimated annual revenue is around $7 million, and the team numbers roughly 75 people spanning aerospace, robotics, software and geospatial science - a deliberately in-house stack that keeps the balloon hardware and the data pipeline under one roof.

"Drones were taking small samplings and extrapolating - that really didn't take off."

Rema Matevosyan, Co-founder & CEO

That line captures the founding logic. Piecemeal aerial capture, Matevosyan argues, never scaled to the wide, frequent, affordable coverage that industries actually needed. Altitude was the lever. By standing higher and drifting on the wind, a single small craft could do what fleets of low-flying machines could not - and do it without the fuel, crews and licensing that make conventional aerial survey expensive.

Where it fits in the market

Geospatial imagery is a crowded field stretched between orbit and the treetops. Near Space Labs occupies an unusual middle band, betting that the stratosphere is the most economical place to gather frequent, high-resolution data over large areas. Its early traction in insurance - a market that rewards speed and detail after disasters - has given it a beachhead, and its expansion into government, utilities and environmental monitoring suggests where it hopes to grow next.

Funding

Backed to scale the fleet

RoundAmountDateLead & notable investors
Series B$20MApr 2025Bold Capital Partners (lead), USAA, Climate Capital, Gaingels, RiverPark Ventures, Crosslink, Third Sphere, Draper Associates
Series A$13MSep 2021Crosslink Capital and earlier backers
Seed~$4.5M2019Third Sphere, Draper Associates

Total raised exceeds $40 million. The 2025 Series B is earmarked to expand nationwide 7cm coverage and scale imaging "for the AI age," with strategic insurer USAA joining the round.

Milestones

The climb, year by year

2017

Founded in New York

Matevosyan, Lluch and Caubet - who met in Moscow - found Near Space Labs and join the Urban-X accelerator.

2019

Swift takes flight

The balloon-borne autonomous imaging robot is developed and early seed funding closes.

2021

$13M Series A

Fresh capital funds fleet expansion and stratospheric imaging operations.

2024

AI cameras speed up claims

CNBC profiles the company's AI-equipped balloon imagery for faster post-disaster insurance assessment.

2025

$20M Series B

Bold Capital Partners leads a round with USAA and others to scale nationwide 7cm coverage.

Worth Knowing

Five things that stick

Nicknamed "Swifty"

The imaging robot rides a helium balloon and uses no engine at all.

No license needed

Swift drifts on stratospheric wind and glides home - no pilot, no flight license.

Moscow beginnings

The three founders met at the Skolkovo Institute before landing in New York.

Twice a jet's height

Imagery is captured from above 60,000 feet - roughly double an airliner's cruise.

Wind, not fuel

Flights are pitched as zero-emission Earth observation powered by air currents.

FAQ

Questions people ask

What does Near Space Labs do?
It captures high-resolution aerial imagery of the Earth using small autonomous robots called Swift that ride helium balloons into the stratosphere, then sells that geospatial data to insurers, governments, utilities and environmental groups.
How does the Swift robot work?
A helium balloon lifts Swift above 60,000 feet, where it drifts on air currents to photograph up to 1,000 square kilometers per flight at 7cm resolution, using no engine or pilot before gliding back to Earth.
Who are Near Space Labs' customers?
Primarily property and casualty insurers (including strategic investor USAA), plus state and local government, energy and utilities, forestry and environmental organizations, mapping firms, and home-services companies.
How much funding has it raised?
More than $40 million total, including a $20 million Series B in April 2025 led by Bold Capital Partners and a $13 million Series A in 2021.
How is it different from satellites or drones?
It operates in the stratosphere - higher than planes and drones but far closer than satellites - to combine 7cm resolution, wide coverage, high frequency and low cost with zero-emission, wind-powered flights.
Watch & Read

Interviews, demos & sources