Investment, merger & acquisition, and tax law executive Matt Wachter to join Carnegie Foundry to lead capital recruitment and finance strategy for the Advanced Robotics and Industrial Autonomy company
PITTSBURGH, PA (April 20, 2022) - Carnegie Foundry, a robotics and AI studio headquartered in Pittsburgh, PA that seeds, launches and manages autonomous robotics and AI start-ups, announced today that Matthew Wachter, will join its executive team in the role of Vice President, Finance and Investment.
Wachter joins Carnegie Foundry from the Erie Downtown Development Corporation (“EDDC”), where he led financial modeling and capital recruitment efforts for the EDDC’s $100 million revitalization of downtown Erie, Pennsylvania. His work was recognized and highlighted by several public and private organizations, including the White House, Forbes Magazine, Wall Street Journal, Sorenson Impact Center, Council of Development Finance Agencies, Mastercard Center for Inclusive Growth, and KPMG LLP.
“Matt’s strengths and experiences shaping, shepherding, and transitioning capital strategy and structure for early-stage opportunities as they mature to successful enterprises will be an invaluable asset to the team,” said Dr. Robert J. Szczerba, Carnegie Foundry’s Co-Founder and CEO. “He will have a key role scaling and resourcing our recent and future spinoffs in autonomous robotics and AI.”
“I look forward to joining the talented team at Carnegie Foundry to help advance their very ambitious goals,” said Wachter. “The portfolio of next-generation innovations and streamlined approaches to rapidly build-out advanced technologies for industry holds great promise in impact and pace of modernization. I am excited to bring my expertise to help fast-track these high-tech advancements - critical to expanding global competitiveness for US industry.”
Wachter is a former member of the KPMG M&A tax group in New York, NY & Philadelphia, PA, and practiced transactional law for several years. He is a graduate of Villanova University School of Law Graduate Tax Program, Duquesne University School of Law, and Pennsylvania State University.
About Carnegie Foundry
Carnegie Foundry is a unique Robotics and AI venture studio, headquartered in Pittsburgh, PA. In partnership with the world leader in autonomous robotics and AI - the National Robotics Engineering Center (NREC) at Carnegie Mellon University – we develop, mature and commercialize cutting-edge intellectual property and advanced prototypes, already market tested and primed for new and expanded applications. This partnership combines expertise from decades of applied R&D work in autonomy with highly strategic, corporate investors that include Oshkosh Corporation and U.S. Steel, to launch innovative companies focused on industrial automation and robotics. This highly specialized expertise and unique business model means Carnegie Foundry can bring multi-use technology solutions to market - minimizing the engineering risks, long lead times and high burn rates that are the most common points of failure for other companies in autonomation and robotics.
Carnegie Foundry is currently focused on commercializing and scaling its portfolio of technologies in advanced manufacturing, automated warehouses and supply chains, industrial robotics, voice analytics, integrated systems, autonomous mobility and more.
Recent investments from Oshkosh Corporation (NYSE: OSK) and the United States Steel Corporation (NYSE: USS) sets Carnegie Foundry’s valuation at nearly $100 million USD. The company’s current funding round is still open.