Near Space Labs expands AI era geospatial imagery with 20 million Series B funding

Near Space Labs expands AI era geospatial imagery with 20 million Series B funding
by Clarence Oxford
Los Angeles CA (SPX) Apr 30, 2025

Near Space Labs has secured $20 million in Series B financing to accelerate deployment of its stratospheric imaging capabilities across the continental U.S. Led by Bold Capital Partners and joined by USAA, Climate Capital, Gaingels, River Park Ventures, and existing backers like Crosslink Capital and Draper Associates, the round will enable Near Space Labs to scale its fleet and data delivery.

The company operates a stratospheric robotics platform that delivers ultra-high-resolution aerial imagery with unprecedented speed and frequency. Its flagship Swift robots can image vast urban regions such as New York City or Los Angeles within hours, offering a cost-effective alternative to traditional aerial surveys and drones.

"Near Space Labs has solved a fundamental challenge in geospatial intelligence: delivering high-resolution imagery with the frequency, scale, and economics that truly unlock commercial value," said Will Borthwick, Principal at Bold Capital. "Their industry-first, nationwide stratospheric robotics platform is uniquely positioned to do for aerial imagery what SpaceX did for satellite launches."

Driven by AI-enabled decision-making, sectors like insurance are demanding more frequent and accurate data. This investment allows Near Space Labs to expand coverage to 80 percent of the U.S. population twice annually, delivering 7cm resolution imagery critical for underwriting, claims, and asset monitoring.

USAA, one of the Series B participants, sees strategic benefit in Near Space Labs' services. "We believe that high-resolution stratospheric imaging will transform how the insurance industry underwrites policies and fulfills claims," said Nathan McKinley, vice president at USAA. "Near Space Labs provides data that drives higher quality, faster turnaround, and lower costs."

Unlike satellites or planes, Near Space Labs' Swift robots operate at altitudes above commercial aircraft but below satellites, enabling rapid deployment and consistent data acquisition over large areas. The firm highlights that replicating a single Swift mission would otherwise require hundreds of thousands of drone flights.

"Earth observation users have been forced to choose between satellite imagery lacking detail and traditional aerial surveys that are costly and infrequent," said Near Space Labs CEO Rema Matevosyan. "Our unique stratospheric approach eliminates this dilemma, combining satellite-like coverage with market-leading resolution."

In 2025, the company plans to roll out custom coverage options for customers subscribed to its national imaging program. These tailored solutions aim to serve specific intelligence needs across industries such as property insurance, climate monitoring, and infrastructure management.

Near Space Labs invites interested partners to explore its scalable imaging services as it advances toward its mission of democratizing geospatial intelligence for the AI era.