Home / Press Releases / Boeing’s HorizonX Ventures Invests in Urban Logistics Drone Builder Matternet

Boeing’s HorizonX Ventures Invests in Urban Logistics Drone Builder Matternet

TYSONS CORNER, VA, June 28, 2018 — Boeing (NYSE: BA), through its venture capital arm, has invested in North Fair Oaks, Calif.-based Matternet, which builds unmanned aerial vehicles for urban logistics use, ExecutiveBiz reported Wednesday.

Boeing said Tuesday HorizonX Ventures led a Series A funding round that raised $16 million to support the drone delivery startup in its projects.

Matternet is a participant in a joint Transportation Department and Federal Aviation Administration project aimed at integrating UAVs into the U.S. national airspace system.

About Executive Mosaic: Founded in 2002, Executive Mosaic is a leadership organization and media company. Executive Mosaic offers highly coveted executive events, breaking business news on the Government Contracting industry, and robust and reliable content through seven influential websites and four consequential E-newswires. Headquarters are located in Tysons Corner, VA. www.executivemosaic.com

Contact:
Jason Scott
(703) 226-7003
jason.scott@executivemosaic.com

Check Also

IBM to Develop Neural Inference Hardware & Software for Air Force

TYSONS CORNER, VA, September 24, 2018 — IBM (NYSE: IBM) will research, design, build, integrate …

Johns Hopkins APL Lands Air Force Contract for Space Program Support

TYSONS CORNER, VA, September 24, 2018 — Johns Hopkins University Applied Physics Laboratory has received a $23.8M …