Axiata Digital, the fully owned subsidiary of Axiata Group Bhd, has recently made it to the headlines with the announcement of its largest investment in Aerodyne Group. While the final amount has not yet been disclosed, the technology venture capital fund, Axiata Digital Innovation Fund, formed by the Malaysian conglomerate, has reportedly invested a double-digit million valuation in the specialist drone solution provider.
Aerodyne, a leading name in drone industry, aims to address the growing challenge of maintaining air quality with advanced environmental technologies. Apparently, the company has completed nearly 24,500 flight operations globally in 2017 alone. The huge cash injection in Aerodyne Group appears to be along the lines of Axalta’s long-term goal of supporting digitization.
Sources claim that under the sponsorship of ADIF which presently encompasses 14 companies under its canopy and a fund size of RM100 million, Axalta is planning to impel the development of digital entrepreneurs in Malaysia. The milestone funding can be placed as an evidence of the company’s confidence in Aerodyne’s advanced drone technology which is presently deployed across 10 countries globally including UK, United Arab Emirates (UAE), US, Saudi Arabia, Australia, Denmark, Malaysia, Indonesia, Singapore, and Brunei.
In this regard, the chief corporate officer of Axiata group, Mohamad Idham Nawawi, has been quoted saying that Axiata Digital is pleased to support Aerodyne in its journey of becoming one of the world’s leading drone-based solution providers. He further added that Aerodyne Group’s total managed solutions are already operational across major projects pertaining to oil and gas, telecommunications, construction, infrastructure, and renewables.
Global drone market is currently valued at USD 127 billion (RM495.81 billion), claim analysts. As per experts, with the increasing rate of industrial drone adoption, the business space is certainly on its way to widen its horizon in terms of revenue over the forthcoming years. Allegedly, through this collaboration with Axiata via ADIF, Aerodyne is planning to tap on opportunities to become a forerunner in the global digital space.
Satarupa develops content for Market Size Forecasters. An electrical engineer by qualification, she worked for two years in the electrical domain before switching her professional genre. Following her childhood passion, she opted for a career in writing and now pens down articles pertaining to marke...