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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