Kuala Lumpur, Malaysia, 16 October 2019 – Aerodyne Group, the world leading drone-based managed solutions provider, announces a US$30 million Series B investment round. Present at the signing ceremony of the first closing were representatives of the Series B lead investor, InterVest/ Kejora Ventures, alongside VentureTECH and Gobi Partners as well as existing investor from Axiata Digital Innovation Fund (ADIF). Participating investor in the Series B first closing but not present today was 500 Startups.
Today, the Malaysian-headquartered, 5-year old Aerodyne is ranked third globally by Drone Industry Insights in its 2019 Drone Service Provider Ranking. Aerodyne currently has presence in 25 countries and delivers AI-driven, drone-based enterprise-integrated managed solutions to the Oil & Gas, Power, Telecoms, Renewables, Construction, Agriculture and Infrastructure industries. Aerodyne has also been privileged to be under the Global Acceleration Innovation Network (GAIN) programme initiated by the Malaysia Digital Economy Corporation (MDEC), which assists highly select Malaysia-based companies to scale up globally.
Aerodyne’s Founder and Chief Executive Officer, Kamarul A Muhamad elaborated, “We’ve grown by leaps and bounds since we began in 2014. We’ve been building a business delivering much needed solutions to a raft of companies and with backing from respected investors, at a time of drone industry consolidation, which is a testament to our strength, growth prospects and the opportunities ahead.”
“We welcome our strategic investors in this Series B round, and look forward to working together on our exciting journey ahead. We also thank QuantePhi as the lead advisor for the Series B round.”
Mr. CH Woo, CEO of InterVest said, “The drone industry has been developing at breakneck speed, but Aerodyne has found the right balance between advancement of technology and meeting client needs. We are excited to be able to provide Kamarul and his team with the funding capital needed to underpin the continued development of technology, business solutions and human capacity to drive Aerodyne’s sustained global growth trajectory.“
VentureTECH’s Managing Director, Dr. Norida Abd. Rahman emphasised the investment company’s role saying, “As a strategic impact investor, our investment is centered on the socioeconomic footprint and commercial strength of Aerodyne’s business as well as the emerging industry it is in. VentureTECH sees the drone industry as a platform industry with high potential to produce spillover effect to the local economy such as creation of high-skilled employment, intensifying R&D activities, and increasing overall high-value economic activities. We hope to materialise these potentials by providing the growth capital and working collectively with Aerodyne and the other Series B investors.”
Proceeds from the Series B investment round will be used to undertake select M&As, further invest in R&D and technology, hire talent globally and continue to expand into Aerodyne’s key global markets such as Japan, India, US, and the Middle East.