The Japanese company Terra Drone, which operates in unmanned aircraft services, revealed its close to sealing an investment round worth $14 million, led by Aramco’s venture capital arm, Wa’ed Ventures.
Terra Drone seeks to localize technological development in Saudi Arabia and contribute to transforming the country into a center for advanced technology.
Wa’ed Ventures’ investment portfolio includes more than 50 companies as part of a national effort to increase technology investment.
Aramco also owns another investment arm called Aramco Ventures, which manages higher-value funds.
Terra Drone intends to use the funds to establish an office in KSA and rehabilitate drones through inspections of oil and gas tanks and facilities affiliated with Aramco.
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