Malaysia-based drone services provider Aerodyne has procured $30m in a series B round featuring Axiata Digital Innovation Fund, a partnership between telecommunications firm Axiata and venture capital firm Malaysia Venture Capital Management.
The round was co-led by VC firms Intervest and Kejora Ventures with contributions from Gobi Partners, 500 Startups and the government-controlled VentureTech.
Founded in 2014, Aerodyne supplies and manages drones that help automate tasks such as the inspection of infrastructure, on behalf of customers in industries including telecommunications, oil and gas production, renewable energy and agriculture.
The company claims to have fulfilled more than 60,000 flight missions and inspected more than 250,000 assets to date.
The series B capital has been earmarked for research and development and possible merger and acquisitions activities in the drone space. Aerodyne also has recruitment plans and is looking to drive further expansion in key market geographies.
Kamarul A Muhamad, founder and CEO of Aerodyne, said: “We have grown by leaps and bounds since we began in 2014.
“We have 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.”
Aerodyne had previously raised an undisclosed amount of pre-series B funding from Drone Fund II, an investment vehicle that counts several corporates as limited partners, in March this year.