Mine Vision Systems raises $11.5M with plans to expand its Pittsburgh workforce
In this month's edition of Money Moves, mining automation company Mine Vision Systems brought in $11.5 million in later-stage funding as it grows its international footprint.
Meanwhile, local sports tech firm Diamond Kinetics is restructuring ahead of a potential raise and possible expansion into new markets. Plus, startup HEBI Robotics landed federal funding to build robots that can safely operate in hazardous industrial settings.
Read on for the latest startup investments and other money moves shaping the Pittsburgh region after the chart showing trends in local tech hiring.
Mine Vision Systems raises $11.5M to expand local hiring
The Pittsburgh-based mining technology company Mine Vision Systems has raised $11.5 million in later-stage equity funding at an undisclosed valuation, according to a July 3 filing with the US Securities and Exchange Commission (SEC).
The raise, which began on May 27, includes 18 undisclosed investors, according to the SEC filing, and will be used to hire more talent in the Pittsburgh area, according to CEO Mike Smocer.
'The current and ongoing fundraising will fund engineering and our go-to-market team,' Smocer told Technical.ly. 'This expansion will be primarily focused on hiring top talent in the Pittsburgh area.'
The filing follows recent news that the company, which develops visual intelligence and automation tools for the mining industry, is expanding its global reach, partnering with firms in Australia and South America.
Since Mine Vision Systems spun out of Carnegie Mellon University in 2015, it's had one documented raise. That year, it secured $3 million from the gold mining firm Gold Fields at a $30 million valuation, according to PitchBook.
Since then, Mine Vision Systems received a $100,000 tax credit in 2022 from the Keystone Innovation Zone (KIZ) Tax Credit Program and landed a multi-year agreement in 2023 with Idaho's Hecla Mining Company to bring its mapping system into North American mines. This happened right as the company prepared to seek Series A investment, according to reporting from the Pittsburgh Business Times, but that never materialized.
Local robotics startup receives $250k grant from US Army
HEBI Robotics, a local company specializing in flexible, build-your-own robotic systems, recently received a $250,000 Small Business Innovation Research (SBIR) grant from the US Army to adapt its tech for use near flammable gases or liquids.
Many industrial tasks require humans to work in dangerous environments where substances that could catch on fire are present. Robots make it possible for this work to be done remotely, keeping human workers out of harm's way, according to HEBI.
Building certified robot systems for hazardous environments can be costly, so HEBI will use the SBIR funding to develop tools that reduce the time and expense of creating those certified robots.
HEBI's long-term goal is to make it easy for professionals to create robots without years of technical training, CEO Bob Raida said in a prepared statement.
'Over the years, HEBI has expanded its hardware to be capable of performing in a wider range of environments including wet and dirty environments, and underwater,' Raida said. 'Creating certified hardware is a big step forward and will be a game changer that opens the door to a nearly limitless number of industrial applications.'
Diamond Kinetics secures $1M in debt financing, plans raise
Pittsburgh-based sports tech company Diamond Kinetics has secured $1 million in debt financing, or funds it will eventually need to pay back, according to a July 1 SEC filing.
The raise, backed by one unnamed investor, is part of a financial restructuring in advance of a larger funding round in late 2025, according to CEO CJ Handron.
'[We're] restructuring a couple things ahead of a raise we're putting together later this year,' Handron told Technical.ly. He declined to comment further on the filing.
Diamond Kinetics, known for its sensor-enabled training tools for baseball and softball players, offers the DK Bat Sensor, which helps athletes track swing data and improve performance. The company raised $18.6 million earlier this year, which was one of the largest Q1 deals in the region, and has secured more than $30 million in total funding since its founding in 2014.
The company is eyeing a possible expansion into other sports, Handron told Technical.ly back in April.
Education money moves:
The US Department of Defense renewed its $1.5 billion contract with Carnegie Mellon University to run the Software Engineering Institute for another five years.
Carnegie Mellon, the University of Pittsburgh and a handful of other universities were awarded a $1.6 million grant from the Alfred P. Sloan Foundation to study AI's impact on workers and the labor market.
Public sector money moves:
Allegheny County has lost over $34 million in green infrastructure grants since early 2025, hitting projects for EV infrastructure and workforce development.
The Pittsburgh Housing Authority signed a $160,000 contract with a private AI company to use its tools for a one-year pilot program that aims to help its understaffed voucher department process thousands of applications.
Governor Josh Shapiro visited Pittsburgh in late May to announce his budget would create a new $50 million PA Innovation program, which would include a one-time $30 million initiative to spur life sciences job growth and $20 million to provide annual funding to support large-scale innovation. Local innovation leaders shared their support for the proposal.
Just one year of federal funding in Pennsylvania generates $5.2 billion in economic activity. Federal cuts to the National Science Foundation and National Institutes of Health are estimated to cause a $259 million loss for Allegheny County.
Other money moves:
Gecko Robotics raised $125 million in Series D funding at a $1.25 billion valuation, reaching unicorn status about 12 years after its founding. Gecko said it would use the funds to accelerate its growth into sectors like defense, energy and manufacturing.
AI healthtech startup Abridge raised $300 million, nearly doubling its valuation to $5.3 billion since February. The funding will support its partnerships with over 150 health systems nationwide.
Amazon pledged to spend $20 billion on two data centers in Pennsylvania, potentially creating hundreds of jobs. Due to existing tax breaks, PA could lose $43 million to $75 million in annual revenue, according to reporting from Spotlight PA, and the impact on electricity supply and prices remains unclear.
A new SEC filing showed Lovelace AI secured nearly $16.2 million from investors, likely related to its recent seed round. The company now holds a pre-money valuation of $28.6 million, per PitchBook.
Two Pittsburgh companies won big at the Keystone Space Innovation Challenge. Beyond Reach Labs won $50,000 for its foldable system that sets up towers and shelters in tough environments. Revitalize got $25,000 for developing space-enabled eye drops to ease screen-related eye strain.
Five Pittsburgh-based Carnegie Mellon University alumni startups, including HeadStrait Labs, Journey Robotics, Shelfmark, Singularity Polymers and a final unnamed startup, were selected to receive $100,000 over the next two years as part of the university's Tartan Entrepreneurs Fund.
Local wearable technology startup IntelliSafe Analytics received a $1 million SBIR grant from the National Science Foundation to commercialize its wearable tech that can predict and prevent workplace accidents associated with lifting, slipping, tripping and heat stress.
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Mine Vision Systems raises $11.5M with plans to expand its Pittsburgh workforce
Pittsburgh startups are attracting fresh funding to build robots and autonomous systems that could make dangerous jobs safer far beyond the region. In this month's edition of Money Moves, mining automation company Mine Vision Systems brought in $11.5 million in later-stage funding as it grows its international footprint. Meanwhile, local sports tech firm Diamond Kinetics is restructuring ahead of a potential raise and possible expansion into new markets. Plus, startup HEBI Robotics landed federal funding to build robots that can safely operate in hazardous industrial settings. Read on for the latest startup investments and other money moves shaping the Pittsburgh region after the chart showing trends in local tech hiring. Mine Vision Systems raises $11.5M to expand local hiring The Pittsburgh-based mining technology company Mine Vision Systems has raised $11.5 million in later-stage equity funding at an undisclosed valuation, according to a July 3 filing with the US Securities and Exchange Commission (SEC). The raise, which began on May 27, includes 18 undisclosed investors, according to the SEC filing, and will be used to hire more talent in the Pittsburgh area, according to CEO Mike Smocer. 'The current and ongoing fundraising will fund engineering and our go-to-market team,' Smocer told 'This expansion will be primarily focused on hiring top talent in the Pittsburgh area.' The filing follows recent news that the company, which develops visual intelligence and automation tools for the mining industry, is expanding its global reach, partnering with firms in Australia and South America. Since Mine Vision Systems spun out of Carnegie Mellon University in 2015, it's had one documented raise. That year, it secured $3 million from the gold mining firm Gold Fields at a $30 million valuation, according to PitchBook. Since then, Mine Vision Systems received a $100,000 tax credit in 2022 from the Keystone Innovation Zone (KIZ) Tax Credit Program and landed a multi-year agreement in 2023 with Idaho's Hecla Mining Company to bring its mapping system into North American mines. This happened right as the company prepared to seek Series A investment, according to reporting from the Pittsburgh Business Times, but that never materialized. Local robotics startup receives $250k grant from US Army HEBI Robotics, a local company specializing in flexible, build-your-own robotic systems, recently received a $250,000 Small Business Innovation Research (SBIR) grant from the US Army to adapt its tech for use near flammable gases or liquids. Many industrial tasks require humans to work in dangerous environments where substances that could catch on fire are present. Robots make it possible for this work to be done remotely, keeping human workers out of harm's way, according to HEBI. Building certified robot systems for hazardous environments can be costly, so HEBI will use the SBIR funding to develop tools that reduce the time and expense of creating those certified robots. HEBI's long-term goal is to make it easy for professionals to create robots without years of technical training, CEO Bob Raida said in a prepared statement. 'Over the years, HEBI has expanded its hardware to be capable of performing in a wider range of environments including wet and dirty environments, and underwater,' Raida said. 'Creating certified hardware is a big step forward and will be a game changer that opens the door to a nearly limitless number of industrial applications.' Diamond Kinetics secures $1M in debt financing, plans raise Pittsburgh-based sports tech company Diamond Kinetics has secured $1 million in debt financing, or funds it will eventually need to pay back, according to a July 1 SEC filing. The raise, backed by one unnamed investor, is part of a financial restructuring in advance of a larger funding round in late 2025, according to CEO CJ Handron. '[We're] restructuring a couple things ahead of a raise we're putting together later this year,' Handron told He declined to comment further on the filing. Diamond Kinetics, known for its sensor-enabled training tools for baseball and softball players, offers the DK Bat Sensor, which helps athletes track swing data and improve performance. The company raised $18.6 million earlier this year, which was one of the largest Q1 deals in the region, and has secured more than $30 million in total funding since its founding in 2014. 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Governor Josh Shapiro visited Pittsburgh in late May to announce his budget would create a new $50 million PA Innovation program, which would include a one-time $30 million initiative to spur life sciences job growth and $20 million to provide annual funding to support large-scale innovation. Local innovation leaders shared their support for the proposal. Just one year of federal funding in Pennsylvania generates $5.2 billion in economic activity. Federal cuts to the National Science Foundation and National Institutes of Health are estimated to cause a $259 million loss for Allegheny County. Other money moves: Gecko Robotics raised $125 million in Series D funding at a $1.25 billion valuation, reaching unicorn status about 12 years after its founding. Gecko said it would use the funds to accelerate its growth into sectors like defense, energy and manufacturing. AI healthtech startup Abridge raised $300 million, nearly doubling its valuation to $5.3 billion since February. The funding will support its partnerships with over 150 health systems nationwide. Amazon pledged to spend $20 billion on two data centers in Pennsylvania, potentially creating hundreds of jobs. Due to existing tax breaks, PA could lose $43 million to $75 million in annual revenue, according to reporting from Spotlight PA, and the impact on electricity supply and prices remains unclear. A new SEC filing showed Lovelace AI secured nearly $16.2 million from investors, likely related to its recent seed round. The company now holds a pre-money valuation of $28.6 million, per PitchBook. Two Pittsburgh companies won big at the Keystone Space Innovation Challenge. Beyond Reach Labs won $50,000 for its foldable system that sets up towers and shelters in tough environments. Revitalize got $25,000 for developing space-enabled eye drops to ease screen-related eye strain. 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This collaboratively reported story is part of the partnership between and Silicon Prairie News, which focuses reporting on the Omaha and Nebraska innovation ecosystem. Find more at Nebraska's emerging healthtech scene mirrors Philly's early days — and could teach its more mature counterpart a thing or two. Both regions are growing their life sciences sectors through strategic collaboration, strong talent pipelines and research-backed innovation. While vastly different in scale and reputation, each has lessons to offer the other — and both may need each other as federal research funding declines. 'If I went to [a Nebraska startup] and was like, 'Here's $10 million,' most of them wouldn't actually take it because they wouldn't know what to do with $10 million,' said Ben Williamson, principal and general counsel at the statewide investment organization Invest Nebraska. 'If you're in Silicon Valley, the culture is to raise as much money as you can and then light it on fire in service of growing as fast as you can, and that's just generally not how Nebraska entrepreneurs build companies.' Ben Williamson, principal and general counsel at Invest Nebraska Nebraska's burgeoning healthtech sector mirrors many of the foundational elements that have made Philly a national life sciences powerhouse: robust tech transfer infrastructure, support from top research universities and a commitment to commercialization through startups. Philly's scene is well-established and has seen past booms and multimillion-dollar raises, but now it can learn from Nebraska on the different types of partnerships that lead to consistent gains. The slow burn, rather than chasing rapid growth, is what's working, according to Williamson. 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'We often say it's a community of 'barn-raisers and casserole-makers' — people who will gladly make connections, introductions and lend support.' A foundation built on academic partnerships The collaborative nature goes a long way in the early stages of building a startup and ecosystem, but more than collaboration is needed in Nebraska to build a world-class reputation on par with Philly's. Nebraska has strong players that support healthtech and similar businesses, according to Williamson. That infrastructure is built on: Collaboration between UNMC and the wider University of Nebraska system Networking opportunities facilitated by university tech transfer offices like UNeMed and UNeTech Active partnerships between hospital systems, researchers and founders 'Nebraska's startup ecosystem reflects the best of its culture: collaborative, down-to-earth and eager to help.' Erica Wassinger, cofounder and general partner of Proven Ventures With institutions like the University of Nebraska Medical Center (UNMC), Creighton University and the Catalyst innovation hub, Nebraska is steadily cultivating the partnerships, lab space and funding necessary to turn academic discoveries into venture-backed companies. This is extremely beneficial for researchers, inventors and aspiring entrepreneurs who are already affiliated with a local university. University hospital systems benefit from being among the first to access the latest innovations to improve patient outcomes and experience. In Philly, the impact of these partnerships has been global, making the city one of the top 15 places in the world to found a company. The region's universities led much of the charge in vaccine development, which gave Philly the spotlight as a life sciences hub it still has today. University of Pennsylvania researcher Katalin Karikó co-developed the technology behind the COVID vaccine, with the university holding key patents that were later licensed to vaccine developers. Today, the university has invested $18 million to 'democratize RNA technology' in a new 'BioFoundry.' Plus, the 'eds and meds' city's life sciences market employs tens of thousands of residents, bringing new companies into the region and boosting economic growth. Like Nebraska, many of these wins can be attributed to collaboration. Coalitions like the Keystone LifeSci Collaborative, tech transfer efforts and attractive programs for growing startups all draw stakeholders to land in the city. Having notable institutions like the Wistar Institute and being recognized by the federal government as a hub for precision medicine helps, too. The academic backbone of startup growth In both Philly and Nebraska, many healthtech innovations can be tied directly to the academic institutions. One of the biggest challenges in healthtech right now is the cuts to federal grants that fund university research — the kind that often leads to startup spinouts. Additional community initiatives in the Omaha metropolitan area, such as the completion of the new 170,000-square-foot Catalyst innovation hub and ongoing events like UNMC's Idea Pub: Morning Edition, which fosters collaboration between entrepreneurs and university researchers, provide avenues for further medical breakthroughs and connections that have the potential to create companies. Nebraska has a strong presence in the adjacent healthcare staffing industry as seen with established players like Triage, Medical Solutions and Fusion Medical Staffing, as well as with new players like Superb Shifts operating in the state, Wassinger of Proven Ventures added. Startups offer Nebraska researchers and inventors new avenues to bring ideas to market, said UNeMed President and CEO Michael Dixon. However, larger companies generally want more proof of concept and marketability before they're prepared to license early-stage technologies, he said. In regard to healthtech, it's less obvious than agtech or logistics tech for how Nebraska can uniquely stand out from other states and ecosystems, Williamson said. That's especially true as other regions tout more unified support from key stakeholders: local government, universities, investors, entrepreneurs and industry leaders, similar to what helped Philadelphia thrive from the get-go. At UNeMed, the tech transfer office assists emerging companies by connecting them with available grants and funding resources offered through the state, such as the Business Innovation Act, UNeMed's Dixon said. But he has voiced concerns over recent uncertainties and considered cuts surrounding these funds. Next, ecosystems need the real estate to grow While projects like UNMC's Center for Research Excellence Building are on the way, Omaha and greater Nebraska still face gaps, particularly in comparison to innovation ecosystems like Philly, Dixon said. Specifically, he said there is a need to expand wet lab infrastructure. As Philly knows, however, that comes with a substantial investment of money and time. Schools like Drexel University jumped on the lab space shortage, building out a half-million-square-foot building with research and lab space. Other examples include redeveloping the empty, 120,000-square-foot Hahnemann University Hospital campus and adding 200,000 square feet of lab space to the Curtis building in Center City. It's a work in progress, though. Spark Therapeutics has been working on a $575 million lab space in the city since 2021, which is still not completed. Nebraska is running into hurdles from local governments and an aversion to risk among corporations and industry leaders to take this next leap. Broader recognition has the potential to attract more investment, from inside and outside of Nebraska, to create more healthtech-specific accelerators and financial incentives to propel the ecosystem to the next level. Nebraska can look to Philly's successful track record of public-private collaborations as a roadmap. Beyond real estate development and stakeholder engagement, Nebraska also faces a challenge: helping medical professionals understand the entrepreneurial path. There's a need for due diligence before deciding to pursue the entrepreneurial path, and medical professionals need to be convinced to see themselves as problem solvers rather than the 'hype' around being a founder, Wassinger said 'Saying 'startup' to someone specifically in the healthcare space — everything about them has been programmed to not risk,' said Wassinger. 'That's almost the antithesis of their entire psyche.'
