Terra Drone Corporation, a drone solution provider, announced the closing of a JPY 1.5 billion (USD 14.4 million) Series A round.
The fundraising was organised by INPEX, Japan’s largest oil and gas exploration and production company, and Nanto CVC No.2 Investment LLP (General Partner: Venture Labo Investment and Nanto Capital Partners, a wholly owned subsidiary of Nanto Bank) through third-party allotment, and with several financial institutions through loan agreement.
Last year, Terra Drone was recognised as the ‘No 1 Global Remote Sensing Drone Service Provider’ in the ‘Drone Service Provider Ranking 2020’ by Drone Industry Insights, a global drone market research company. Although severely affected by Covid-19, Terra Drone increased its revenue and profits in 2020. The consolidated annual revenue is approximately USD 20 million.
The investment will allow Terra Drone to further develop technologies and grow the client base. The drone-based solutions will contribute to the industries by enhancing safety and efficiency.
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