Boeing and corporate venturing unit HorizonX are being sued by bankrupt former portfolio company Zunum over claims of technology theft and fraud.

Bankrupt US-based aircraft developer Zunum Aero has sued aerospace manufacturer and former corporate investor Boeing alleging fraud, technology theft, breach of contract and misappropriation of trade secrets, The Verge reported yesterday.

Zunum was developing hybrid electric jets that would allow airlines to run short-haul flights while saving on fuel costs. It raised an undisclosed amount from Boeing subsidiary HorizonX and JetBlue Technology Ventures, the investment arm of airline operator JetBlue, in 2017.

The company filed for bankruptcy in April…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.