The venture businesses of Boeing and Verizon have invested in SparkCognition to help the Austin, Texas-based company further develop information technology applications through artificial intelligence and machine learning methods.
Boeing said Monday its ventures arm HorizonX joined an investment group, led by Verizon Ventures, to support a $32 million initial funding round for SparkCognition.
SparkCognition develops machine learning and analytics tools designed to help increase the safety, security and reliability of data technology for the aerospace, defense, energy, finance, manufacturing, oil and gas, security and telecommunications industries.
Amir Husain, founder and CEO of SparkCognition, said the investments from Boeing and Verizon will help validate SparkCognition’s AI platform.
Boeing formed HorizonX earlier this year to support early-stage businesses and startup companies as well as identify new business opportunities and partnerships for the company’s aerospace programs.
HorizonX has also invested in augmented reality wearable software developer Upskill and propulsion aircraft developer Zunum Aero.