Aerospace manufacturer Kaman Corp. has announced a $10 million investment in Pittsburgh-based Near Earth Autonomy, which produces technology that allows aircraft to autonomously take off, fly and land, with or without GPS.
In exchange, Kaman will receive a minority interest in the outstanding equity of Near Earth, and one seat on its board of directors.
The investment will help Near Earth deploy technology for autonomous cargo transport in aviation, according to the announcement.
Kaman, which is based in Bloomfield, will be the preferred manufacturer of autonomous parts and components for Near Earth, the company said.
The companies already had a working relationship. Since 2019, Near Earth has partnered with Kaman on the autonomy technology for Kaman’s K-MAX TITAN, a heavy-lift optionally piloted helicopter for the United States Marine Corps, and the KARGO UAV unmanned aerial system, an autonomous medium-lift logistics vehicle.
Near Earth provides autonomous flight systems to facilitate safe landing and obstacle avoidance, including “sense and avoid” navigation that can operate without GPS.
“We are excited at the opportunity to mature the technology for the commonplace use of autonomous aircraft for logistics across the industry,” said Sanjiv Singh, CEO of Near Earth.
