The federal government is the main source of funding for the Pittsburgh area this month.
Numerous projects will get millions from the Department of Transportation, the Environmental Protection Agency, and the Economic Development Administration. This entails expanding Bakery Square’s AI Avenue and adding more charge stations for electric cars.
A Bloomfield startup was just bought by a major player in the worldwide farm tech industry.
The federal government is the main source of funding for the Pittsburgh area this month.
Numerous projects will get millions from the Department of Transportation, the Environmental Protection Agency, and the Economic Development Administration. This entails expanding Bakery Square’s AI Avenue and adding more charge stations for electric cars.
A Bloomfield startup was just bought by a major player in the worldwide farm tech industry.
Global leader purchases a local startup
Bloomfield Robotics was acquired by Japan-based Kubota Corporation for an unknown sum. The local firm was acquired by Kubota, a farm equipment specialist, due to its AI-based crop health detection technology.
According to M. Brett McMickell, chief technology officer of Kubota North America, “This acquisition is a key milestone for Kubota’s strategic vision to provide comprehensive smart agriculture solutions,”
What the acquisition will mean for Bloomfield Robotics’s position in Pittsburgh is still unknown. According to Bloomfield Robotics president and CEO Mark DeSantis, the acquisition would expedite the robotics startup’s development goals. The firms have collaborated over the past two years.
The agtech company was founded in 2019 as a Carnegie Mellon University spinout. It has raised $16 million in seed and Series A funding thus far.
$5 million spent on medtech regulations
Rimsys, located in North Side, was given a $5 million award by the Global Opportunity Pennsylvania Fund II (GO PA). For the medical technology industry, the firm develops regulatory management software.
“builds on our mission to increase accessibility to life-changing medical technologies with a focus on regulatory intelligence, submissions management, and [unique device identifiers] enhancements and thoughtfully incorporating advanced technologies like AI,” “Our next phase of growth,” stated James Gianoutsos, founder and CEO of Rimsys.
In 2023, Ben Franklin Technology Partners launched the fund. Its latest investment is the company’s first outside of the Philadelphia area.
Bakery Square will be upgraded for $2.8M
The Allegheny County Industrial Development Authority was awarded $2.8 million by the Economic Development Administration (EDA) to be used toward Bakery Square.
The funds from Pittsburgh will be utilized especially on road infrastructure to encourage the expansion of businesses and jobs in the emerging tech cluster. An additional $2.8 million from the local government will go toward the project, which is expected to generate $7 million in private estimates and create or keep 55 jobs.
US Representative Summer Lee stated, “This $2.8 million investment is about more than just roads and buildings — it’s about centering our workforce and their potential.”
