Japan’s Terra Drone raises $14M from Aramco’s Wa’ed Ventures
- ByStartupStory | January 25, 2023
According to the press release, Terradrone Corporation, a drone and urban air mobility tech provider headquartered in Japan has bagged a deal of $14 million in funding from Wa’ed Ventures, the venture capital (VC) arm of Aramco.
The investment is the first investment by Wa’ed Ventures’ in the Asia region. The funds will be utilized by Terra drone to to set up a new subsidiary “ Terra Drone Arabia” in the kingdom of Saudi Arabia, in line with Saudi Arabia’s government.
The new subsidiary will be responsible for facilitating operations to conduct drone surveys, unmanned traffic management (UTM), and inspections in Saudi Arabia. It will also provide oil-gas inspection services in the country.
Terra Drone Arabia will also help the company, which is counted among the top two drone service providers in the world, to further its expansion globally. Currently, the company provides drone and UAM solutions to 10 countries globally.
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