SkyDrive, a Japan-based developer of flying vehicles and industrial drones, has raised ¥3.9bn ($36.7m) in a series B round featuring corporates Eneos, Gree, Itochu, NEC, Obayashi and VeriServe.
IT services firm NEC, construction firm Obayashi, verification services provider VeriServe and trading group Itochu invested directly, while Itochu also took part through its Itochu Technology Ventures unit. Petroleum supplier Eneos Group and internet company Gree were represented by Eneos Innovation Partners and Strive.
Leasing services provider Sumitomo Mitsui Finance and Leasing, venture capital firm Energy & Environment Investment and state-owned financial services firm Development Bank of Japan filled out the round.
Spun off by unnamed aerial vehicle (UAV) producer Cartivator, SkyDrive has developed Cargo Drones, UAVs that help lift heavy materials and objects in the agricultural, civil engineering and infrastructure maintenance sectors, in addition to a flying passenger car dubbed SD-02.
Cargo Drones are already commercially available and the company is aiming to put its flying cars into practical use by 2023.
Itochu Technology Ventures, Strive and Energy & Environment Investment had already participated in a $13.9m round for SkyDrive in September 2019, investing with internet company Yahoo Japan’s Z Corporation subsidiary and investment firm Drone Fund.
Drone Fund had previously provided $2.65m for the company in late 2018, which came in the wake of a $390,000 round featuring carmaker Toyota the year before.
