Saudi Arabia is stepping up its bid for a stake in the advanced air mobility sector, with Wa’ed Ventures, the venture capital arm of oil and gas giant Aramco, this week investing $14 million in drone operations and uncrewed traffic management (UTM) group Terra Drone. The Japan-based company, which has previously raised $83 million, will now establish a subsidiary in Saudi Arabia to develop services such as drone surveys and develop infrastructure that could support eVTOL aircraft operations.
The new Terra Drone Arabia business unit is an extension of the group’s network across nine other countries and including its European division Unifly. With partners including Indra and Frequentis, the group has run flight operations and UTM management contracts in Canada, Belgium, the Netherlands, Denmark, Germany, Bulgaria, Austria, Spain, and Malawi. It is also now seeking to expand in both Southeast Asia and North America.
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