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Wa’ed Ventures, the venture capital arm of Aramco, has invested $14 million into Japanese drone provider Terra Drone Corporation. The financing involves the establishment of a new subsidiary in the Kingdom of Saudi Arabia, Terra Drone Arabia, to conduct drone survey, inspection and unmanned traffic management across various projects. This support is in line with the Saudi government’s “Vision 2030” reform plan, which seeks to stimulate economic transformation in the country by reducing its dependence on hydrocarbons.

Aramco invests $14 million into drone business

Wa’ed Ventures, the venture capital arm of Aramco, has invested $14 million into Japanese drone provider Terra Drone Corporation. The financing involves the establishment of a new subsidiary in the Kingdom of Saudi Arabia, Terra Drone Arabia, to conduct drone survey, inspection and unmanned traffic management across various projects. This support is in line with the Saudi government’s “Vision 2030” reform plan, which seeks to stimulate economic transformation in the country by reducing its dependence on hydrocarbons.

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