The Clap
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.
What
Terra Drone seeks to localize technological development in Saudi Arabia and contribute to transforming the country into a center for advanced technology.
So What
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.
Now What
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.
