Urban Sky has announced the successful closure of a $30 million Series B funding round. This substantial investment underscores the growing recognition of the company’s pioneering work in stratospheric balloon technology, which promises to transform data collection methods in various sectors.

Founded in 2019 and based in Denver, Colorado, Urban Sky has quickly become a leader in the development of small, altitude-stable stratospheric balloons. These reusable Microballoons are designed for Earth observation and remote sensing applications, offering a cost-effective and efficient alternative to traditional satellite imagery. The company’s innovative approach has positioned it at the forefront of stratospheric exploration.

The Microballoon Technology

Urban Sky’s Microballoons are a revolution in high altitude data collection. Unlike traditional macrostratospheric balloons, the systems are up to 100 times smaller and portable. In their present configuration, at takeoff, a Microballoon is roughly the size of a car, expanding as it rises to an operational altitude of about 65,000 feet. 

The design allows for rapid deployment, and recovery permits several uses, thus drastically reducing operational costs.

Altos Ventures, the firm that focuses on investing in transformative technologies, led the Series B funding round. Other investors were New Legacy Ventures, Lerer Hippeau, Catapult Ventures, Lavrock Ventures, New Stack Ventures, TenOneTen, DA Ventures affiliate of Denver Angels, Union Labs VC, and Techstars. This diverse investor group speaks to the broad appeal and potential impact of Urban Sky’s technology.

Anthony Lee, Managing Director at Altos Ventures, said, “As a fund, we believe in investing in deeply committed founding teams that understand one big thing that others don’t. 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.”

Read also: Reusable rocket startup Stoke Space raises $260M Funding

Strategic Objectives Post-Funding

Infusion of $30 Million to Scale Business
With infusion of $30 million, Urban Sky is targeting to:

• Develop and market an integrated set of products meant to unlock the maximum value of tactical stratosphere for military as well as commercial customers.
• OPERATIONAL SCALEUP: Grow its operations in light of the ever-growing demand to accommodate the workforce and its headquarters.
• Market Penetration: Capture a large share of the markets in real-time wildfire monitoring and defense applications by exploiting the capabilities of Microballoon technology.

Read also: Loft Orbital Secures $170M to Scale Satellite Deployment

Applications of Microballoon Technology

Microballoons from Urban Sky have been proven to be versatile across various applications:

• Earth Observation: High-resolution imagery for environmental monitoring, urban planning, and disaster response.
  Wildfire Monitoring: Real-time data for tracking the progression of wildfires to facilitate timely response efforts.
• Defense and Intelligence: Persistent surveillance for tactical operations
• Communications: Stratospheric communication networks; example in partnership with goTenna, network coverage of more than 14,000 square miles. 

Urban Sky competes in a competitive landscape with companies such as Near Space Labs and Aerostar International. However, its focus on reusable, small-scale stratospheric balloons provides a unique value proposition that differentiates it from competitors relying on traditional, larger balloon systems.

The new funding will allow Urban Sky to further accelerate the deployment of its Microballoon technology, bringing high-resolution, real-time data collection to more and more markets and making it less expensive. Such an innovative approach may transform industries by offering real-time data from the stratosphere in time.