Global investments in the drone industry continue as funding for leading drone service provider Terra Drone increases by a Series A round of $ 14.4 million.
Terra Drone Corporation has seen a sharp rise since it launched in Japan in 2016 and was named one of the best insights into the drone industry by Drone Services Provider last year. Today the company announced that it has completed a Series A Round worth JPY 1.5 billion ($ 14.4 million). “The fundraising was organized 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. “
Terra Drone has grown by forming global partnerships and has opened service centers around the world. They have acquired industry-specific expertise that enables the company to serve multiple corporate sectors, including the lucrative oil and gas market. The Terra Drone financing announcement states that its current consolidated annual revenue is approximately $ 20 million, indicating that the company has reached an enviable customer base in less than five years – and the investment will help grow that customer base even further and develop new technologies, says the announcement.
Japanese investors say Terra Drone’s success is good for Japan and meet the national goals to take a leading place in the fourth industrial revolution.
“Although there are a number of drone companies in the world, Terra Drone is focused on providing industrial drone solutions and has unique patented technologies for drones and sensors. They also have extensive experience inspecting onshore and offshore drones at major oil and gas companies around the world. Terra Drone is the only drone company in Japan that aims to be the world’s leading provider of drone solutions.
INPEX’s “Business Development Strategy – Towards a Net Zero Carbon Society by 2050” announced on January 27, 2021 states that one of our plans is to “develop new businesses and technologies through proactive collaboration with startups” . and this investment in Terra Drone fits the concept perfectly.
Together with Terra Drone we want to create a sustainable, diverse energy business that will lead Japan and the world into the next era, ”said Toshio Todoroki, General Manager of the Digital Transformation Unit at INPEX Corporation.
“We believe that Terra Drone can lead the drone industry by leveraging its high technical / operational capabilities, global presence and speed of growth. We have known Terra Drone since it was founded 5 years ago. The progress is excellent and it is a pleasure to be part of the journey.
The source of their growth lies in the foresight and courage of serial entrepreneur Toru Tokushige, Founder / CEO, and the amazing team members around the world who make the breakthrough.
We will help Terra Drone to become a large international company from Japan, ”said Daiji Yamanaka, Managing Director of Venture Labo Investment.
Miriam McNabb is editor-in-chief of DRONELIFE and CEO of JobForDrones, a marketplace for professional drone services, and a fascinating observer of the emerging drone industry and the regulatory environment for drones. Miriam has written over 3,000 articles focusing on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam graduated from the University of Chicago and has over 20 years experience in high tech sales and marketing for new technologies.
For advice or writing on the drone industry, email Miriam.
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