Italian stratospheric balloon technology company, Involve, has secured €2.5 million in a Seed round, marking a significant step forward for the startup. This funding comes after the company’s impressive track record of 30 successful commercial launches and extensive testing. The round, led by Earlybird Venture Capital, was bolstered by contributions from Takeoff, Unicredit, Fondazione CRT, Plug and Play, and TLI Space, alongside €500,000 in convertible loans.
Involve has made headlines with its cutting-edge stratospheric pseudo-satellite platforms, which utilize intelligent software to monitor everything that moves at human speed. This technology provides real-time, high-resolution data, crucial for environmental protection, natural resource management, and infrastructure security. With this Seed round, Involve is set to accelerate its technological advancements and scale its operations.
A key highlight of this round is the addition of two significant figures to Involve’s team. Alastair Westgarth, the former CEO of Google’s Project Loon, joins the executive Board of Directors, bringing with him a wealth of experience in high-altitude balloon technology. His expertise is expected to be instrumental as Involve pushes the boundaries of its platform’s capabilities. Additionally, renowned astronaut Paolo Nespoli will offer his insights on the Advisory Board, further strengthening Involve’s position in the aerospace sector.
Earlybird Venture Capital’s investment is particularly noteworthy, as it marks Involve as the first Italian startup to be chosen by the firm’s Earlybird-X initiative. Dr. Philipp Semmer, a partner at Earlybird-X, expressed his confidence in Involve’s potential, stating, “Involve will use the funds to accelerate the development of its stratospheric balloon technology to achieve several technical milestones. These include enhancing flight duration, optimizing control systems through artificial intelligence, and expanding payload capacity.”
The fresh capital will also support the expansion of Involve’s team, with plans to recruit new talent in key areas such as aerospace engineering. This strategic growth is expected to position Involve at the forefront of stratospheric balloon technology, with the potential to revolutionize how real-time data is captured and utilized.
Involve’s innovative approach and the recent Seed round underscore the company’s commitment to pushing technological boundaries. With a strengthened team and substantial funding, Involve is poised to achieve significant milestones in the coming years, paving the way for more sustainable and secure management of our planet’s resources.
