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Photo: Satellite imagery
Boeing He said he has agreed to provide $50 million to establish a new aerospace technology venture fund, which will be privately managed by a partner in the company. AE Industrial Partners (AEI), a private equity firm.
In the new investment AEI HorizonX A second fund will be used to raise $250 million to invest in startups in the future of mobility, space, sustainability, digital enterprise applications, networks and security. AEI declined to comment on whether it has additional investors in Fund II yet.
Boeing created HorizonX in 2017 to invest in emerging startups and technology companies in areas such as space, autonomous driving, unmanned systems, 3D printing and rugged computing. As Boeing HorizonX moves into a strategic partnership with AEI in August 2021, the venture capital arm has made minority investments in 40 companies, including RedWire and Firefly Aerospace.
“The AI Horizon X platform has provided key support for Boeing to partner with early stage companies and accelerate technology development and adoption,” said Greg Hyslop, chief engineer at The Boeing Company, in a statement. “It’s all about technology transitions, how we can partner with entrepreneurs to turn the best ideas into our products and services to better support our customers.”
The current AEI HorizonX portfolio includes 51 global investments in companies working in artificial intelligence and machine learning, climate systems, climate impact and data analysis. The portfolio includes companies in the US, Europe, Asia and Australia.
AEI HorizonX also sold five of its investments, including UpSkill TeamViewerMorf3D to NikonAgylstor to secondAnd Coburg to North VoltAnd it helped Virgin Galactic Go public in 2019.
Boeing says the second fund will expand its reach into critical innovations.
“The future of aerospace is digital, sustainable and autonomous,” said Mark Allen, Boeing’s chief strategy officer, in a statement. “This new Fund II builds on our foundation with Fund I and will allow us to significantly expand our strategic reach into challenging technologies critical to shaping and realizing the future.”
AEI’s HorizonX investments give startups access to Boeing’s talent and expertise, which in turn gives Boeing the opportunity to leverage new technologies and capabilities across its aerospace and defense businesses.
AEI HorizonX’s latest investment, announced on July 14, is part of a Series B funding round. Shift5Developed data insight tools for applied technology. The new investment will help Shift5 gain traction in the aerospace and defense industries.
“By providing visibility into data that powers their most valuable, long-lived and most valuable fleet assets, Shift5 enables rail, aerospace and defense companies to make once-impossible informed decisions, improve cyber security and increase operational efficiency.” The UN said.
This article was first published by satellite sister publication Defense Daily.
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