Loon develops and operates a fleet of high-altitude balloons that deliver internet connectivity to remote and disaster-affected areas. The project began in 2013 and was spun out of Alphabet’s X the year prior to the article. Loon says its balloons have flown more than 30 million kilometers and provided internet access for “hundreds of thousands” of people, including relief efforts in Peru (2017) and Puerto Rico after Hurricane Maria. The company’s core product includes fleet management technology to coordinate collections of balloons. Following the investment, Loon plans coordinated work with HAPSMobile including shared use of crafts/balloons, joint development of a communications payload, and a common ground station. They also intend to optimize Loon’s fleet-management systems for HAPSMobile and form an alliance to engage regulators on high-altitude communications solutions.

Total raised

$125M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2019