Saudi “Wa’ed Ventures” is leading an investment round of $14 million in the Japanese “Terra Drone”.

Saudi “Wa’ed Ventures” is leading an investment round of $14 million in the Japanese “Terra Drone”.
Saudi “Wa’ed Ventures” is leading an investment round of $14 million in the Japanese “Terra Drone”.
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Saudi “Wa’ed Ventures” is leading an investment round of $14 million in the Japanese “Terra Drone”.

It works in the field of unmanned aircraft services and in efforts to support its expansion in the Kingdom


Thursday – 4 Rajab 1444 AH – January 26, 2023 AD Issue No [
16130]

One of the “Terra Drone” drones (Middle East)

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Riyadh: «Asharq Al-Awsat»

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The Japanese company “Terra Drone”, which operates in unmanned aircraft services (drones), announced the closing of its investment round, estimated at $ 14 million, led by “Wa’ed Ventures”, the investment arm in venture capital in emerging companies, wholly owned by the company. “Aramco Saudi Arabia”.
Terra Drone plans to take advantage of the investment in establishing a subsidiary in Saudi Arabia, to start localizing unmanned aircraft services, and to continue supporting the self-driving vehicle sector, which studies indicate is at the top of the list of emerging technology sectors globally, according to the American investment bank, Morgan Stanley. , who indicated his expectations that the global market size of the unmanned vehicles sector will reach $1.5 trillion by 2040, according to information released yesterday.
Toru Tokushige, Founder and CEO of Terra Drone, said: “Since its founding in 2016, Terra Drone has been driving the development of the aircraft industry. After 6 years, we are now approaching a future in which unmanned aircraft technologies and air mobility systems are one of the most important prevailing and globally adopted technologies.
Toro added: “Thanks to the founding team, we have been able to establish a track record of achievements both locally and internationally, so that (Terra Drone) has become known among the leading providers of drone services in the world. Wa’ed Ventures’ investment in the company is an acknowledgment of the importance and scale of our achievements, which raises the determination of the founding team to achieve global leadership in the field of modern innovations.”
For his part, Eng. Fahd Al-Eidi, Managing Director of Wa’ed Ventures Fund, said: “We look forward to contributing through our investment in (Terra Drone) to building an advanced air transport system in the Kingdom, based on sustainable economic means. Especially with indicators showing how ready the company and its founding team are to localize its global innovations in various countries of the Middle East and North Africa, starting with Saudi Arabia.
The Terra Drone Company closed previous investment rounds, estimated at a total of $83 million. Those rounds included participation from SBI Investment Co., Ltd., Mitsui Co., Ltd., the Japanese Environmental Sustainability Company, and the Sika Corporation of the Japanese Mitsubishi Group. All of them are among the largest institutional investment firms in the Asian markets.
The startup has also served more than 10 countries since its inception, providing unmanned aircraft devices, cloud software, and air mobility systems, to support more than 1,000 projects around the world, with the aim of creating an “integrated community based on drone technologies.”

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