Asian Surveying & Mapping
Breaking News
Australia’s Gilmour Space Technologies ready to launch maiden Eris Test flight the nation’s first orbital launch in over 50 years
Gilmour Space Technologies is the leading launch services company...
Korea’s space agency seeks revision of plan to modify next-gen rockets into reusable system
South Korea's aerospace agency said on Thursday that it...
UAE Space Agency Signs Agreement With Technology Innovation Institute to Execute the Emirates Mission to the Asteroid Belt’s Lander Project
In the presence of His Highness Sheikh Hamdan bin...
Private Japanese lunar lander enters orbit around moon ahead of a June touchdown
A private lunar lander from Japan is now circling the moon, with...
Indian astronaut to travel soon to ISS as part of ISRO-NASA Mission
Prime Minister Narendra Modi said by 2040, an Indian’s...
China issues regulatory framework to support direct-to-device satellite services
HELSINKI — China has released comprehensive regulations for direct-to-device...
Astranis clinches $115 million Taiwan deal despite satellite setback
TAMPA, Fla. — Astranis has signed a $115 million...
UAE and Egypt Strengthen Space Collaboration with New MoU
In a milestone development for Arab space collaboration, the...
Seoul launches 4th spy satellite to boost North Korea surveillance
South Korea’s military now operates an increasingly integrated cluster...
Indonesia seeks space defense cooperation with Japan’s military
Jakarta (ANTARA) - The Ministry of Defense of Indonesia...

January 27th, 2023
Terra Drone Raises $14 Million from Aramco’s Wa’ed Ventures

  • Terra Drone is the first Asian startup to raise funding from Wa’ed Ventures, the venture capital of the 2nd biggest company in the world by market cap, Aramco
  • The company will establish a new subsidiary for its operations in Saudi Arabia to conduct drone survey, inspection and unmanned traffic management (UTM) in Saudi Arabia

TOKYO – Terra Drone Corporation, a leading drone and Urban Air Mobility (UAM) technology provider, has raised $14 million in funding from Wa’ed Ventures, the venture capital arm of the biggest oil producer in the world, Aramco. With this financing, Terra Drone will set up a new subsidiary in the Kingdom of Saudi ArabiaTerra Drone Arabia, in line with the Saudi government’s “Vision 2030.”

First announced in 2016, the Vision 2030 reform plan aims to stimulate economic transformation in Saudi Arabia by reducing the country’s dependence on hydrocarbons. Technology is at the heart of this initiative and the Saudi government is focusing its efforts to promote the use of drones in services such as asset inspections.

Wa’ed Ventures was founded in 2013 and specializes in fostering innovation by investing in startups to develop the Saudi Arabian economy. This is the first time Wa’ed Ventures is investing in an Asian startup, which is a testament to Terra Drone’s vision, state-of-the-art digital solutions, and cutting-edge drone technologies. Terra Drone will support a new subsidiary by taking advantage of whole business experiences of Terra Drone in Global, No.1 drone solution provider in the world in the fields of survey, inspection and unmanned traffic management (UTM).

With the establishment of Terra Drone Arabia. Terra drone will provide oil-gas inspection services, The new subsidiary will also help Terra Drone, which is counted among the top two drone service providers in the world, to further its expansion globally. At present, Terra Drone provides drone and UAM solutions in 10 countries across the world.

Unifly is the leading UTM technology provider in the world, having strong presence in Europe and North AmericaTerra Drone is the largest shareholder of Unifly.

The new subsidiary Terra Drone Arabia will further promote drone inspections to support the Saudi economy, ensure safe and efficient UAM in the country, and invest in the growth of both verticals.