Aerodyne Group (Aerodyne), a Malaysian drone solutions provider, has clinched $30 million as part of its latest bridging round and capital infusion for its drone services that will fuel the company’s international expansion into European, African, Latin American and South Asian territories.
Long-time clients, Petronas, via its corporate venture capital arm Petronas Ventures, led the round, along with follow-on investment by Kumpulan Wang Persaraan Diperbadankan (KWAP), who initially invested in the group back in 2020.
Speaking on the achievement, Kamarul A Muhamed, founder and group CEO of Aerodyne, said: “We’re happy to have raised $30 million through this bridging round, which will allow us to scale even further globally, especially supported by our new technology developments.”
“We also have plans to raise further capital in near future, amounting to $100 million to $200 million to bring Aerodyne Group to the next stage of its growth, which we are very excited about,” he added.
Aerodyne is looking to utilize the funds as a strategic investment into technology acquisition to further deepen Aerodyne’s technology edge and launch Aerodyne’s entry into the advanced air mobility space.
Mr Kamarul also commented on the group’s plans to raise further capital in the near future, amounting to US$100 million to US$200 million to bring the group to the next stage of its growth.
“We’re delighted to welcome Petroliam Nasional Bhd as an equity partner and are immensely proud of the conviction and support of our existing investor Retirement Fund Inc in our growth,” he said in a statement.
With placeholds in 35 countries, Aerodyne is a drone tech, data tech, and digital transformation (DT3) pioneer with its use of artificial intelligence (AI) as an enabling technology for large-scale data operations, analytics and process optimisation.
Aerodyne’s flagship precision agriculture solution powered by in-house developed AI capabilities, with more than 300,000 secured effective hectarage for major industry players in Malaysia.
Part of the funds will also be utilised to support Aerodyne’s agriculture scaling up efforts and bringing this solution into Indonesia and India.