Saudi Aramco’s Venture Arm Backs Japanese Drone Tech Startup
- Wa’ed Ventures will invest $14 million in Tokyo’s Terra Drone
- Saudi Arabia is ramping up tech bets to lower reliance on oil
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Saudi Aramco’s early-stage investment fund is backing a Japanese startup that develops software for drones, as the world’s biggest oil company pursues new technologies.
State-backed Saudi Arabian Oil Co.’s Wa’ed Ventures said it will invest $14 million in Tokyo-based Terra Drone Corp., which designs software to help drones inspect and monitor pipes, tanks and other confined spaces. It’s the $200 million fund’s first investment in East Asia.