Boeing has launched a new venture capital business unit, HorizonX aimed at investing in innovation and disruptive technology for aerospace.
It revealed the first two HorizonX investments – one in Upskill, a Washington DC-based company focused on augmented reality solutions for manufacturing and logistics. The second investment, in conjunction with JetBlue Technology Ventures, is in Zunum Aero, a Kirkland, WA start-up developing hybrid electric aircraft concepts. Zunum has been secretly working on 10-50 seat hybrid-electric aircraft for the past three years, with the goal of lowering seat costs by 40-80%. Aimed at revolutionising the regional airliner market, to begin with Zunum plans to develop a ten-seat 700nm range version by the 2020s, with a larger 50-seat hybrid airliner with a 1,000nm range ready for the 2030s.