Q3 Tweener Founder Spotlights: Extellis with Michael Boyarsky
Turning metamaterial research into a new era of satellite imaging and keeping space tech innovation in the Triangle.
Tweener Founder Spotlights
Every startup has a moment when everything quietly becomes real: the experiment that finally works, the spreadsheet that suddenly tells a story, or the realization that the world is operating at just 2% of its potential.
For Extellis, those moments converged in a big way, culminating in a Monday where they announced their funding, came out of stealth, and launched the company publicly.
This week’s Founder Spotlight features Michael Boyarsky, Co-Founder and CEO, whose journey from Duke research scientist to space-tech founder is reshaping what’s possible in satellite imaging.
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The Triangle Startup Bringing Satellite Imaging Out of the 2% Era
Lessons You’ll Hear Between the Lines
Extellis covers a lot of ground (and orbit). Here’s the short version before we take off:
Breakthroughs aren’t lightning bolts, they’re layers of validation.
It’s not enough to build something better; you have to understand who needs it and why.
Founders don’t need everyone’s advice, just the right people’s.
World-class science can (and should) stay rooted in the communities that shape it.
From Lab Curiosity → Commercial Possibility
Michael Boyarsky didn’t set out to be an entrepreneur. He liked research; that was the whole point of grad school. As a physics undergrad, he loved the process enough to pursue a PhD at Duke, where he joined a research group studying lightweight, low-cost metamaterials. He was particularly intrigued by a satellite imaging project that blended electromagnetics, metamaterials, and synthetic aperture radar.
That’s also where he met Dr. David Smith, his PhD advisor, mentor, and now co-founder and Chief Science Officer of Extellis.
Early in his work, Michael stumbled on a startling piece of industry reality that he couldn’t shake: Most satellites performing this type of imaging operate only ~2% of the time. That’s millions of dollars in hardware, a 96-minute orbit with only ~120 seconds of usable operation.
“That number blew my mind,” he said. “And our antennas could change that.”
That insight, combined with a series of customer conversations, conference trips, and long nights of running commercial models, formed the backbone of the Extellis thesis:
“If you can dramatically improve antenna efficiency, you can dramatically change the economics of SAR imaging.”
Some founders have their “I’m not crazy, this might actually work” moment early. For Michael, it happened slowly, in layers: the prototypes improving in the lab, the customer feedback repeating the same pain points, the market gaps getting harder to ignore.
“There wasn’t one lightning bolt,” he said. “Just the same message over and over: ‘We need more volume. We need lower prices. We need SAR imagery that’s actually accessible.’ That’s what kept pushing us forward.”
Building a Company From a Spreadsheet
“My research might have started in a lab,” Michael stated, “but my company definitely started in a spreadsheet.”
He took what he was seeing in the lab and began mapping satellite performance, product economics, customer applications, and commercial potential. Duke’s New Ventures program helped connect those dots, pairing him with mentors, customers, and a framework for turning academic research into real-world products.
Their advice stuck with him and their guidance shaped a lot of his early thinking. One lesson emerged more clearly over time:
“Find the people whose advice resonates, and double down. You’ll get hundreds of conflicting opinions. Pick the ones you trust, and keep just enough stubbornness to stay true to your vision.”
It’s a balance every founder has to navigate, and Michael found his footing quickly.
As Extellis began to take shape, the next question became just as important as the technology itself: Where should this company live?
Why the Triangle?
Michael came to the Triangle for Duke. He expected to leave after finishing his PhD. But like many founders here, the city grew on him, slowly, then all at once.
He watched Durham transform, watched friends put down roots, watched the local tech landscape broaden beyond life sciences and AI.
“It’s affordable, it’s growing, it’s exciting,” he said. “And now that we’re spinning the company out, it’s even more clear that this is the right place for us.”
As Extellis grows, Michael hopes they can help expand the region’s presence in hard tech and space tech, adding to the ecosystem’s diversity of innovation.
What’s Next for Extellis
With funding announced and stealth mode officially over, the next phase is clear: Hiring. A lot of it.
“We’re looking for incredible engineers to join our team,” he said. “If anyone knows great people, send them our way.”
Extellis now has a website and a LinkedIn page where interested folks can follow along, apply, or reach out. The team is small, the roadmap is big, and Michael and David are ready to trade fundraising mode for building mode.
As he put it:
“Fundraising ends, but spending it wisely, that’s the part we’ve been waiting for.”
Founders in the Triangle: A Final Thought
Michael jokes that he’s “surprised as anyone” that his career led here, from physicist → researcher → scientist → founder. But the way he talks about the work, the customers, the technology, and the mission makes it clear he’s exactly where he’s supposed to be.
And in true Triangle fashion, he’s building something ambitious, technical, and globally relevant, right here at home. Find Michael and David on LinkedIn and explore Extellis at https://www.extellis.com/
Explore more Tweener portfolio companies at tweenerfund.com.
Next on Tweener Founder Spotlights
Stay tuned for more Tweener Spotlights as we continue highlighting the founders shaping the future from the Triangle.