Terra Drone, a Japanese firm that specializes in drone software, hardware, and unmanned aircraft traffic management technology, has secured $14 million in Series C funding from Wa'ed Ventures, the venture capital arm of Saudi Aramco. This marks Wa'ed Ventures' first investment in Asia and brings Terra Drone's total funding to $97 million since its launch in 2016. The company, which declined to comment on its post-money valuation, intends to use the new capital to establish Terra Drone Arabia, a subsidiary that will focus on promoting drone inspections in the Middle East and North Africa region. Terra Drone's technology will be used for fossil fuel inspection services by companies such as Saudi Aramco, the world's largest oil producer, in line with Saudi Arabia's "Vision 2030" plan which aims to reduce the nation's dependence on hydrocarbons and promote the use of drones in services.
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