PITTSBURGH — During the second quarter of 2026, $70.15 million was invested in 17 Pittsburgh technology companies, fueled by two eight-figure rounds.
Gray Swan AI raised $40 million, and Hellbender raked in $12.5 million during the three months ended June 30, according to the quarterly PitchBook-NVCA Venture Monitor, released early on July 9. NVCA is short for National Venture Capital Association.
Gray Swan is an AI safety startup launched in 2024 by researchers at Carnegie Mellon University. It develops tools for AI companies to assess the risks of their systems before deployment.
Hellbender is an AI infrastructure company that develops and manufactures computer vision products.
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