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Boeing Invests in Drone Startup in Push for Automated Technology

  • Near Earth spun out of Carnegie Mellon’s Robotics Institute
  • Aerospace companies increasing support for new technologies
Bloomberg business news

The Future of High-Powered Commercial Drones

Boeing Co. is investing in Pittsburgh-based Near Earth Autonomy, a self-guided drone startup, marking its first financial backing for a company specializing in autonomous technology since establishing the HorizonX venture fund in April.

Boeing, the world’s largest aerospace company, declined to specify the size of the investment. Near Earth Autonomy authorized the sale of about $10 million in equity, which would value the company at $40 million to $50 million, according to an estimate by private stock market operator Equidate. HorizonX typically makes investments “that span the single millions up to the low teens,” a spokeswoman said.