Terra Drone Secures USD 14.4 Million in Series A Funding
Terra Drone Corporation, the world’s leading drone solution provider, today announced the closing of a JPY 1.5 billion (USD 14.4 million) Series A round. The fundraising was organised 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.
Last year, Terra Drone was recognised as the ‘No 1 Global Remote Sensing Drone Service Provider’ in the ‘Drone Service Provider Ranking 2020’ by Drone Industry Insights, a global drone market research company. Although severely affected by Covid-19, Terra Drone increased its revenue and profits in 2020. The consolidated annual revenue is approximately USD 20 million.
The investment will allow Terra Drone to further develop technologies and grow the client base. The drone-based solutions will contribute to the industries by enhancing safety and efficiency.
Overview of the solutions
- Inspection: Terra Drone enhances drone inspections by; integrating new technologies and methods. Terra Inspectioneering, a group company of Terra Drone, has developed the UT drone and the Terra 3D Inspect. UT drone is a patented drone that can conduct UT (Ultrasonic Thickness) measurements. UT drones are used to execute inspections for storage tanks, chimneys, boilers/Incinerators, and vessels. Terra 3D Inspect is a full cloud-based platform for industrial inspection data.
- Survey: Terra Drone has a significant track record conducting LiDAR survey. Combining the operational excellence in both data capturing and processing/analysing, Terra Drone delivers quality data to the clients.
- Monitoring: Drone regulations are constantly evolving around the world (especially drone based surveillances) and are expected to increase, over the coming years. C-Astral, a group company of Terra Drone, provides long endurance fixed wings, which are used for activities such as pipeline monitoring, forest fire detection and border controls.
- UTM (Unmanned aircraft system Traffic Management): Public-private council of Japan is targeting 2022, to achieve ‘Level 4 Operation’, which is the permission for BVLOS (Beyond Visual Line of Sight) over populated areas. Towards the Industrial Revolution of Sky, Terra Drone will proactively develop UTM, the platform to enable safe operations of unmanned aerial vehicles. Terra Drone invests in Unifly, the European leading provider of UTM.
Comments from Investors
Toshio Todoroki / General Manager, Technology Department, Digital Transformation Unit, at INPEX Corporation
“While there are a number of drone companies in the world, Terra Drone is focused on providing industrial drone solutions while possessing unique patented technologies for drones and sensors. They also have a vast experience of onshore and offshore drone inspection, with major oil & gas companies in the world. Terra Drone is the only drone company in Japan, targeting to be the No.1 global company as a drone solution provider.
In INPEX ‘s ‘Business Development Strategy – Towards a Net Zero Carbon Society by 2050’ which was announced on 27th January, 2021, it has stated that one of our plans is to ‘Develop new business and technology, by proactively collaborating with startups’, and this investment in Terra Drone, perfectly matches with the concept.
Together with Terra Drone, we aim to create a sustainable energy business with diversity that will lead Japan and the world to the next era.”
Daiji Yamanaka / Managing Director of Venture Labo Investment
“We believe Terra Drone can lead the drone industry by leveraging its high level technical/operational capability, global presence, and the speed of growth. We have known Terra Drone since its inception 5 years ago. The progress is outstanding, and it is a pleasure for us to be a part of the journey.
The source of their growth is derived from the foresight and courage of serial entrepreneur Toru Tokushige, Founder/CEO, and the excellent team members around the world, who are making the breakthroughs.
We will support Terra Drone to become a major international company from Japan.”
About Terra Drone Corporation
Terra Drone, established in 2016, is one of the largest industrial drone solutions providers in the world. The company’s head office is located in Tokyo, Japan. Terra Drone offers clients high-end drone-based solutions, with the latest cutting-edge technologies embedded and supported by industry professionals. For more information, visit https://www.terra-drone.net/global/