Terra Drone Financing 70 Million Series B Raise
Terra Drone Financing on a Roll: $70M in Series B Funding
by DRONELIFE Staff Writer Ian M. Crosby
Drone and Urban Air Mobility (UAM) leader Terra Drone Corporation has announced that it has closed $70 million USD (8 billion Japanese yen) in its Series B funding round, receiving investments from Mitsui & Co., Ltd., SBI Investment Co., Ltd., Tokyu Land Corporation, Kyushu Electric Power T&D, and Seika Corporation.
The Series B round also saw public-private infrastructure fund Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) provide funding for the recently established joint venture, with additional contribution by established investor Venture Lab Investment.
“Our airspace is going to get more crowded than ever, but most companies today are concentrating only on hardware development,” says Terra Drone founder and CEO Toru Tokushige. “There’s an urgent need for a global air traffic management solution to enable safe…