Rema Matevosyan

The Future of Earth Observation is Wide Open

BY REMA MATEVOSYAN

CEO, Near Space Labs

As the pandemic amplified all the opportunities and challenges that existed, the Earth Observation (EO) industry suddenly received more attention because people were looking at different ways of monitoring the Earth remotely. The effects of climate change were also very visible during this time.

Data about our planet is key to understanding how we protect ourselves against climate change. This has led to an increased demand for not only better data but also data that captures the reality of our rapidly changing planet. Decision-makers need this information to work efficiently and effectively and come up with new solutions to the climate crisis. I think the movement of capital markets and venture capital toward climate-related solutions is very exciting and an important step toward tackling these issues.

The transforming EO market It’s very exciting to see so many new start-ups and companies entering the EO market. More capital flowing into fast-growing companies that can tackle these challenges across industries means that we have more resources to develop more innovative technologies.

We are already seeing the emergence of new uses for EO data. For example, there are new sensor fusions on the market, by radar satellite companies working with optical imagery providers to create new solutions. We’re seeing the Swiftys. This was a key product decision to accommodate the need to avoid physical contact. Something that we are proud of at Near Space Labs is the flexibility of our technology and the ability to iterate not just on our software, but also on our hardware because we control the full technology stack, from R&D to manufacturing to engineering. Since we don’t depend on rockets and big aerospace suppliers, we’re able to adapt more quickly to changes in the market.

The demand for our product has been massive. Within nine months, we experienced a 7X increase in revenue. That allowed us to raise another round of funding in September 2021 and continue our growth.

We saw success by starting with a customer need that hadn’t been addressed by the existing industry model. Our offering is unique because there are no trade-offs between resolution, frequency, and nimbleness. As the cherry on top, we are also more cost-effective for our customers at as low as USD 10 per sq km, which opens access for many industries and use cases, from conservation groups to insurance companies to governments, and more.

emergence of emissions tracking. At Near Space Labs, we are going to be an active participant in this new wave of technology and are planning on making some exciting announcements later this year.

But the future of EO is still very wide open. We are at a really exciting point where the shape of the industry in general is being defined and written, which makes it even more enticing for venture capitalists to participate and more companies to enter the space.

Users need their issues addressed Like in any other industry, it’s critical for EO companies to center their business and product development around their users.

The beginning of the pandemic was tough on Near Space Labs in terms of trying to figure out what’s next.We launched commercially in July 2020. In response to the rapidly changing market dynamics, we accelerated the development of our fleet of autonomous robots called

We are at an exciting point where the industry is being defined and written, which makes it even more enticing for venture capitalists to participate in and for more companies to enter the space.

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ANNUAL EDITION / JANUARY-FEBRUARY 2022