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Aerodyne Group Secures USD30 Million in Strategic Investment Bridging Round Led by PETRONAS; Follow On by KWAP on Conviction of Growth

• Strategic alliance with long-term consumer PETRONAS additional strengthened with fairness
• KWAP’s second funding in Aerodyne is a testomony of investor’s confidence

Kuala Lumpur, Malaysia – 26 September 2022 – Aerodyne Group (“Aerodyne”) introduced in the present day that it had raised USD30 million as a part of its newest bridging spherical, the newest capital infusion for the well-financed drone service supplier.

Aerodyne’s long-time consumer PETRONAS, through its company enterprise capital arm PETRONAS Ventures, has led the funding spherical which additionally included a follow-on funding by KWAP, who initially invested within the group again in 2020.

Based in 2014, Aerodyne is a DT3 (Drone Tech, Information Tech, and Digital Transformation) drone-based enterprise options supplier, and a pioneer in using synthetic intelligence (“AI”) as an enabling know-how for large-scale knowledge operations, analytics and course of optimisation with a presence in 35 nations.

The funds shall be used to help Aerodyne’s additional enlargement into European, African, Latin American and South Asian territories, in addition to strategic funding into know-how acquisition to additional deepen Aerodyne’s know-how edge and launch Aerodyne’s entry into the superior air mobility area.

Aerodyne’s flagship precision agriculture resolution powered by in-house developed AI capabilities, with greater than 300,000 secured efficient hectarage for main business gamers in Malaysia. A part of the funds shall be utilised to help Aerodyne’s agriculture scaling-up efforts and bringing this resolution into Indonesia and India.

A big-scale commercialisation plan for Aerodyne’s superior air mobility resolution can also be already underway. This resolution consists of using heavy lifter drones, which may change the extra pricey
conventional strategies and is well-suited for oil & gasoline operations resembling shore-to-platform and
platform-to-platform deliveries. This additionally accelerates massive logistic operations resembling supply of
medical provides in rural areas, and doubtlessly in city air mobility the place quick and cost-effective
mode of transportation could be supplied in close to future.

A Memorandum of Collaboration (MoC) was signed on twenty first April 2022 between Aerodyne Oil & Fuel, a subsidiary of Aerodyne Group and PETRONAS’ know-how commercialisation arm, PETRONAS Expertise Ventures (PTVSB) to discover alternatives for deployment and commercialisation of drone-based options, in addition to enabling distant and autonomous operations by the enlargement of robotics and digitalisation.

Kamarul A Muhamed, founder and Group CEO of Aerodyne mentioned, “We’re delighted to welcome PETRONAS as an fairness companion and are immensely happy with the conviction and help of our current investor KWAP in our development. We’re pleased to have raised USD30 million by this bridging spherical, which is able to enable us to scale even additional globally, particularly supported by our new know-how developments. We even have plans to boost additional capital in close to future, amounting to USD100 million to USD200 million to deliver Aerodyne Group to the subsequent stage of its development, which we’re very enthusiastic about.”

Arni Laily Anwarrudin, Head of PETRONAS Ventures mentioned, “Aerodyne’s know-how and options are aligned with PETRONAS Ventures’ funding focus within the area of Way forward for Services – and we strongly consider that this fairness funding will strengthen our partnership additional and unlock important worth for each PETRONAS and Aerodyne.”

Hazman Hilmi Sallahuddin, Chief Funding Officer of KWAP commented, “We’re delighted to proceed supporting Aerodyne in its subsequent part of development. Since KWAP first invested in Aerodyne again in 2020, the corporate has seen speedy progress, increasing its enterprise from a primarily native operation to turning into the highest drone providers firm on the planet.

“This follow-on funding varieties a part of our mandate to offer development capital for native firms to scale up globally. As well as, our intention to help Malaysia’s high-skill and high-value financial actions with constructive spill over results to the native economic system are consistent with Aerodyne’s goals. As an current companion, KWAP is proud to be a part of this journey to additional propel Aerodyne’s international trajectory.”

About Aerodyne Group

Aerodyne Group (https://aerodyne.group) is a DT3 (Drone Tech, Information Tech, and Digital Transformation) drone-based enterprise options supplier, and a pioneer in using synthetic intelligence as an enabling know-how for large-scale knowledge operations, analytics, and course of optimisation.

Aerodyne employs over 1,000 drone professionals to function on an unprecedented stage within the UAS
providers sector, having managed greater than 560,000 infrastructure property with 458,058 flight operations and surveyed over 380,000 km of energy infrastructure throughout 35 nations globally.

Aerodyne is ranked first on the planet by Drone Business Insights (DII) in its ‘Drone Service Supplier Rating 2021’; was named Frost & Sullivan’s ‘Asia Pacific UAV Providers Firm of 2019’; and is a recipient of the Institute of Engineering and Expertise (IET) Malaysia’s ‘Business Excellence Gold Award 2019’.

The corporate’s founder and Group CEO, Kamarul A Muhamed, is ‘EY’s Entrepreneur of the Yr 2020’, ‘EY’s Expertise Entrepreneur of the Yr 2020 Malaysia’, Technode International’s Startup Chief of the Yr 2021’, in addition to ‘SEBA Entrepreneur of the Yr 2020’.

About PETRONAS Ventures

PETRONAS Ventures (https://www.petronas.com/ventures/) drives know-how innovation to keep up PETRONAS’ aggressive edge on this ever disruptive and difficult enterprise surroundings, a transfer to help its core oil and gasoline enterprise and to place itself for additional development within the vitality transition area. Its funding verticals give attention to Way forward for Services, Specialty Chemical substances and Superior Supplies, Way forward for Power and Frontier know-how; which incorporates areas like inexperienced mobility, discount of GHG in addition to round economic system.

PETRONAS Ventures invests in early to development stage know-how startups, leveraging on PETRONAS’ international community throughout the vitality worth chain to realize sturdy alignment and strategic match with its co-investors and companions, in serving to startups to scale up.

About Kumpulan Wang Persaraan (Diperbadankan)

Kumpulan Wang Persaraan (Diperbadankan) (KWAP) or the Retirement Fund (Included)
(www.kwap.gov.my) was established on 1st March 2007 below the Retirement Fund Act 2007 (Act 662) changing the repealed Pensions Belief Fund Act 1991 (Act 454).

KWAP manages contributions from the federal authorities and related companies made into the Retirement Fund (Fund) to acquire optimum returns on its investments by sound administration and funding of the Fund in fairness, mounted revenue securities, cash market devices, and different types of investments as permitted below the Retirement Fund Act 2007 (Act 662). The Fund shall be utilized in the direction of aiding the Federal Authorities in financing its pension duties. In 2015, KWAP was formally appointed as an agent of the Federal Authorities for the aim of pension fee, gratuity, or different advantages granted below any written legislation from the Consolidated Fund as agreed between the Federal Authorities and KWAP.

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