January 25, 2023
The Saudi Aramco owned investment fund, Wa’ed Ventures, has led a $14 million ‘bridge round’ in Terra Drone, the Japan-based urban air mobility tech firm. This will see the Japanese firm launch a new subsidiary in the Kingdom, to localize its drone services as well as serve a global autonomous vehicles market expected to ‘grow to $1.5 trillion by 2040’. Terra Drone, which launched in 2016, is on a ‘mission to evolve the world from the sky’. According to Toru Tokushige, founder and CEO, “We are now approaching a future where drones and aerial vehicles will no longer be a novelty. We have built up a solid track record both domestically and internationally up to this point, and have grown to be recognized as the top drone service provider in the world.
Read the original article in Gulf News: Saudi Aramco fund takes stake in Japan’s ‘air mobility’ firm Terra Drone