By Patty Tascarella – Senior Reporter, Pittsburgh Business Times
Boeing Co.’s new venture capital arm has invested in Pittsburgh-based Near Earth Autonomy, plus partnering to explore technologies for defense and commercial applications.
Near Earth, a spinoff from Carnegie Mellon University’s Robotics Institute, develops software and senor technology enabling aircraft to inspect, map and survey terrain and infrastructure, as well as transport cargo autonomously.
The amount was undisclosed but Boeing HorizonX’s investments typically range from single millions to teen millions.
This marks the first autonomous technologies investment since Boeing HorizonX, was launched by Chicago-based Boeing (NYSE:BA) in April.
Sanjiv Singh, Near Earth CEO said the capital will be used to accelerate product development.
Near Earth is based in Bloomfield and employs about 50.
Near Earth CEO Sanjiv Singh