Insider Brief
- Urban Sky has closed a $30M Series B investment round to further develop its technologies aimed at unlocking the potential of the stratosphere for both military and commercial sectors.
- The investment round was led by Altos Ventures, with additional support from several other venture capital firms.
- With this Series B funding, Urban Sky plans to expand its capabilities and develop a global constellation of long-duration, persistent stratospheric balloons. This will enable the company to support a wider range of commercial and defense applications, including search and rescue operations, environmental monitoring, and disaster response.
Urban Sky, a company focused on stratospheric platforms, announced it has closed a $30M Series B investment round. The funding will be used to further develop its technologies aimed at unlocking the potential of the stratosphere for both military and commercial sectors. The investment round was led by Altos Ventures, with additional support from several other venture capital firms.
Urban Sky’s portfolio includes high-altitude balloons, custom payloads, and control software that are already in use for a variety of applications, such as real-time wildfire monitoring. The company’s technology provides a novel platform for both military and commercial users. Urban Sky offers a solution that functions much like a “personally deployable satellite,” enabling high-resolution, persistent data collection at altitudes over 60,000 feet. This unique positioning in the stratosphere, a region between aircraft and satellites, provides access to an area that has been largely untapped for applications like communications and intelligence missions.
Andrew Antonio, CEO and co-founder of Urban Sky, shared, “Our team has already made huge strides to pioneer humanity’s routine and easy access to the stratosphere and the value locked within it. This new capital will allow us to accelerate the development of our technology and product portfolio to make an even greater impact on our customers’ missions.”
The company has already commercialized its first major product, the Microballoon™ (mHAB), which can operate for days in the stratosphere, offering long-duration data collection and tactical use-cases. Urban Sky is working with multiple sectors, including NASA, the U.S. Army, and oil & gas industries. The company’s partnership with NASA and the U.S. Air Force has also led to the development of the “Hot Spot” system, which uses long-wave infrared imaging and satellite connectivity to monitor wildfires. This system provides real-time, high-resolution data that is 100 times more detailed than current satellite data sources.
Anthony Lee, Managing Director at Altos Ventures, highlighted the unique value of Urban Sky’s approach: “In Urban Sky, we see a category-defining opportunity and the potential for a great, lasting company. We’re excited to partner with them to unlock the full value of the stratosphere globally.”
With this Series B funding, Urban Sky plans to expand its capabilities and develop a global constellation of long-duration, persistent stratospheric balloons. This will enable the company to support a wider range of commercial and defense applications, including search and rescue operations, environmental monitoring, and disaster response.
Image credit: Urban Sky
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