Boeing says it is investing in two early-stage technology companies through a newly created ventures arm called Boeing HorizonX, whose focus is on accelerating potentially transformative aerospace technologies, manufacturing innovations, and emerging business models.

Boeing HorizonX made a venture investment in Washington, D.C.-based Upskill, a provider of enterprise software for augmented reality wearables focused on enhancing productivity, quality, and safety in manufacturing, field service and logistics. Boeing says it has been working with Upskill for more than two years to evaluate the use of its technology.

Boeing HorizonX will focus on accelerating potentially transformative aerospace technologies.The venture arm also is partnering with JetBlue Technology Ventures to invest in Zunum Aero, a Kirkland, Wash.-based company that is pursuing development of alternative propulsion aircraft, with potential for performance and efficiency improvements in a range of aerospace applications.

Boeing HorizonX will have three focus areas: making targeted investments in new ventures and startups; seeking unique business opportunities for the company's aerospace technology; and assessing disruptive innovations and business strategies. (Learn more about Boeing HorizonX.)

Boeing HorizonX is led by Steve Nordlund, who takes the role after serving as vice president of strategy for Boeing Defense, Space & Security. Prior to his strategy role, Nordlund led Boeing's Autonomous Systems division. He has led strategy and business development organizations in both defense and commercial airplane business units at Boeing and helped launch venture-backed Insitu Inc., which developed the ScanEagle and Integrator unmanned aerial systems. Boeing acquired Insitu in 2008.

Boeing HorizonX will operate as part of the Corporate Development & Strategy group, which reports to Greg Smith, chief financial officer and executive vice president of Corporate Development & Strategy at Boeing, with alignment also to Boeing's chief technology officer and senior vice president of Boeing Engineering, Test & Technology, Greg Hyslop.