High-Altitude Balloon Maker Closes on $30 Million

Urban Sky, a Denver-based company specializing in high-altitude balloons, has announced the closure of a $30 million Series B investment round.

This investment round was led by Altos Ventures, with participation from New Legacy Ventures, Lerer Hippeau, Catapult Ventures, Lavrock Ventures, New Stack Ventures, TenOneTen, DA Ventures, Union Labs VC, and Techstars.

Urban Sky develops high-altitude balloon systems used by commercial, civil government, and U.S. defense customers, including NASA, the U.S. Army, the U.S. Air Force, and companies in the oil and gas sectors. Urban Sky’s flagship product, the stratospheric Microballoon (mHAB), is a rapidly deployable and navigable balloon capable of operating above 60,000 feet for multiple days.

Urban Sky also offers custom high-altitude payloads, control software, and AI-driven forecasting and autonomous flight control systems. These technologies are used for high-resolution and persistent aerial data collection that supports real-time wildfire monitoring, environmental assessments, and search-and-rescue operations. In the defense sector, Urban Sky’s systems provide tactical intelligence, surveillance, and communications support, functioning as a “personally deployable satellite” for military operations.

Denver-headquartered Urban Sky was founded in 2019 by co-founder and CEO Andrew Antonio. “Our team has already made huge strides to pioneer humanity’s routine and easy access to the stratosphere and the value locked within it,” said Mr. Antonio. “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.”

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

Altos Ventures, founded in 1996 and headquartered near San Francisco in Burlingame, California, focuses on early-stage investments in the consumer and enterprise sectors. In November 2024, the firm closed its most recent fund, Altos Hybrid 6 LP, with $500 million in capital.