Palo Alto – May 5, 2016 – Cooley advised World View, a leading developer of stratospheric balloons for commercial and tourism applications, on its $15 million Series B financing led by Canaan Partners. The round also included investments from Norwest Venture Partners, Tencent, Moment Ventures and Base Ventures.
World View, which raised $7 million in an earlier Series A round, said the new investment will go towards accelerating development of what it calls "Stratollites," a version of its high-altitude balloons that are able to remain aloft for extended periods of time and remain over the same area, or travel extended distance as needed to carry out their mission. World View is already flying more conventional balloons that carry research payloads into the stratosphere for limited periods of time. "The major innovation in this product is the ability to fly for long periods of time over specific places of interest," said Jane Poynter, chief executive of World View, in an interview.
According to TechCrunch, World View anticipates using Stratollites for applications like communications, remote sensing and meteorology, missions today frequently carried out by satellites.
The team advising World View included Mehdi Khodadad, Alex Kassai, Yuri Weigel, Carolyn Craig and David Crawford.
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