Sceye, a startup based in New Mexico, has raised US$15 million from SoftBank Corp.

This funding values the company at US$580 million.

The company manufactures airships that are 214-foot at its 41,600-square-foot facility.

These high-altitude platforms are designed to hover for extended periods to collect climate data and provide wireless connectivity in remote or disaster-affected areas.

CEO Mikkel Vestergaard Frandsen said SoftBank’s telecom expertise aligns with Sceye’s mission.

Sceye plans to test its platform in Japan next year to deliver broadband in a multi-week trial.

Founded in 2014, the firm has worked with NASA and USGS, with backing from Mawarid Holding.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ The high-altitude platform market is entering a critical commercialization phase after decades of false starts

HAPS technology has experienced cycles of interest since the 1990s, with many projects failing to progress beyond initial phases despite significant investments from countries like the US, Japan, and South Korea 1.

The current wave of development, which includes Sceye (founded in 2014), coincides with when tech giants like Google and Facebook reignited interest in the technology for internet connectivity purposes 1.

Industry projections suggest a decisive shift from proof-of-concept to commercial deployment in 2025, with the overall market expected to grow from $85 million in 2023 to $189 million by 2028 at a CAGR of 17.2% 2.

Sceye’s $15 million funding from SoftBank positions the company to potentially capitalize on this commercialization phase, with plans to conduct a demonstration in Japan next year before pursuing commercial sales.

The company’s successful “full diurnal flight” test last year marked a critical technical milestone by proving their platform could remain operational for over 24 hours using solar power during daylight and batteries at night.

2️⃣ SoftBank’s investment reflects a strategic connectivity vision beyond traditional infrastructure