Boeing HorizonX has been on a roll in the recent days as the tech giant has been investing huge sums on money in burgeoning startups. The venture capital group has upped the ante by investing in a flourishing drone delivery startup.
Boeing HorizonX Ventures is the venture capital arm of aerospace giant Boeing that has initiated a $16 million Series A funding round in drone delivery venture Matternet.
The startup claims that the investment has been sought to be utilized to broaden its urban operations.
In the fall of 2017, Boeing HorizonX put in an unknown amount of money in Near Earth Autonomy, a company headquartered in Pittsburg that excels in developing technologies providing support for autonomous flight operations of drones. Just in June, Boeing HorizonX led a slightly small $5 million funding initiative in San Francisco centered drone software startup Kittyhawk.
Part of the FAA’s drone pilot program, Matternet is collaborating with government agencies to test different types of drone flights that are presently barred in the United States including flight trips at night, flights over crowds and package delivery. Flirtey and Zipline are the other companies that are members of this joint venture with Federal Aviation Administration (FAA).
In May, the startup carried out drone logistic operations for a certain number of hospitals under the program and is currently functioning with UC San Diego Health and the City of San Diego and WakeMed Health and Hospitals and the North Carolina Department of Transportation to setup Matternet networks for desired transportation of laboratory samples and medical gear between medical healthcare facilities.
Matternet has also partnered with a number of organizations in Switzerland such as Swiss Post and Mercedes Benz.
Established in 2011, Matternet is headquartered in Menlo Park, California and is headed by one of the company’s cofounders, Andreas Raptopoulos.