Involve, the Italian startup known for its leadership in stratospheric balloon technology, has successfully closed a €2.5 million seed investment round. The round was led by Earlybird Venture Capital, a prominent European venture capital firm, with the participation of several other key investors.
This significant funding milestone coincides with the addition of renowned astronaut Paolo Nespoli to Involve’s Advisory Board, further strengthening the company’s strategic vision and expertise in the aerospace sector.
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Strategic expansion and leadership strengthening
With this latest round of funding, Involve is poised to accelerate the development of its innovative stratospheric balloon technology, which has already seen success in over 30 commercial launches.
The company’s technology is designed for real-time Earth monitoring, telecommunications, and infrastructure applications. The infusion of capital will enable Involve to enhance the endurance of its balloon flights, optimize control systems through artificial intelligence, and expand payload capacity.
In conjunction with the investment, Involve has also announced the formation of a new Board of Directors. Jonathan Polotto, the founder, will continue in his roles as CEO and Chairman. He will be joined by Alastair Westgarth, former CEO of Google’s Project Loon, an initiative focused on global connectivity via high-altitude balloons.
Claudio Piazzai, a partner and the company’s Chief Operating Officer, will continue to play a pivotal role in supporting Involve’s growth, especially in international markets. Paolo Nespoli, whose extensive space experience adds a new dimension of expertise, will serve on the Advisory Board, providing strategic guidance as the company scales its operations.
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Investment details
The €2.5 million seed round was spearheaded by Earlybird Venture Capital, which manages €2.5 billion in assets. Other investors included Takeoff, an aerospace and advanced technologies accelerator backed by CDP Venture Capital, Italy’s largest VC with €3.8 billion under management.
The round also saw participation from Unicredit, Fondazione CRT, Plug and Play, and TLI Space, a venture capital firm focused on space and technology investments. The funding was further complemented by €500,000 in convertible loans.
Dr. Philipp Semmer, a partner at Earlybird-X, expressed enthusiasm about the partnership with Involve: “We are excited to work with Jonathan, Claudio, and the entire Involve team in building the next generation of high-altitude balloon platforms. The team has impressed us with their ability to achieve significant initial traction with very little capital.”
“Furthermore, they have succeeded in attracting some of the brightest minds in the industry, such as Alastair Westgarth. Involve is set to define a new category of Earth observation technology, and we are thrilled to be part of this journey alongside CDP and TLI Space,” Semmer added.
The funding transaction was supported by several legal and financial advisors.
Future plans for expansion
Involve plans to expand its team by hiring in key areas such as aerospace engineering, software development, and data management. Moreover, the company is set to strengthen its international presence by deepening existing partnerships and establishing new ones, particularly in the fields of surveillance, environmental monitoring, and telecommunications.
Looking ahead, Involve is eyeing potential expansion into the United States, with Houston, Texas, as a likely focal point.
“Our next step should be somewhere near Houston, USA,” Polotto commented. “Here, for over a month, I had the opportunity to develop contacts and engage in substantial networking. This will happen fairly soon, thanks to our board member Alastair Westgarth and business developer Courtney Stadd, former Associate Administrator of NASA and former Director of Commercial Space at the White House.”
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