London, United Kingdom, 2nd August 2022 – SkyportVertiport and drone infrastructure provider Advanced Air Mobility (AAM), has completed the final closure of its Series B capital increase with new investments from ST Engineering through its Corporate Venture Capital unit, ST Engineering Ventures.
ST Engineering, which has over 45 years of experience in the aerospace industry, will join as the final investor in Skyports’ Series B funding round, following the first closure in March of this year. Adding Singapore’s heavyweight to Skyports’ investor roster brings total funding to $ 26.13 million. The heavily subscribed Series B round highlights confidence in Skyports’ offering and industry direction.
ST Engineering’s investment in Skyports is based on a history of strong collaboration between the two companies in Singapore. Since early 2021, Skyports has worked closely with ST Engineering to jointly manage field monitoring and drone inspection services for Singapore’s Public Utilities Board (PUB). The collaboration brings together Skyports’ expert flight operations capabilities and ST Engineering’s drone system solution, DroNet, to implement autonomous Beyond Visual Line of Sight (BVLOS) flights across the city-state’s network of reservoirs. Expanding the partnership, Skyports, ST Engineering and Sumitomo Corporation formed a consortium in early 2022 to provide unmanned aircraft services for ship-to-shore package delivery in Singapore.
Duncan Walker, CEO of Skyports, said: “The Asian market is a critical growth area for AAM and we are committed to cultivating it. The investment from Kanematsu Corporation, and now ST Engineering, demonstrates that our confidence and focus in this market is founded and supported by industry leaders across the region. ST Engineering has long been a strong partner of ours and we are honored to further develop this relationship with the company joining Skyports as an investor. We look forward to pooling our expertise to expand our capabilities. ”
Soo Soon Teong, VP and Head of Unmanned Air Systems at ST Engineering, said: “Our investment in Skyports stems from our confidence in the future of advanced air mobility and the experience Skyports has and continues to grow in building towards that future. With even stronger ties now between ST Engineering and Skyports, we will accelerate efforts to marry our complementary strengths in Advanced Air Mobility and advance the DroNet solution globally. ”
Other Series B investors include the Japanese conglomerate Kanematsu Corporation; global industrial property group Goodman Group; Italian airport platform 2i Aeroporti, supported by the Ardian Infrastructure Fund and the Italian F2i Infrastructure Fund; and US-based venture capital firm GreenPoint.
The final closing of Skyports’ Series B funding round represents the strong prospects for the company and is a testament to the continued upward trajectory of the AAM sector. Looking ahead, Skyports will continue to strengthen its global ties with industry-leading ecosystem partners, public and private sector stakeholders and regulators to develop targeted solutions that will simultaneously mature both AAM critical infrastructure and operations. drone services to offer greater mobility, productivity and safety in all markets.
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Skyports secures £ 2.56m investment in Serie B led by ST Engineering Ventures – UK technology investment news
Source link Skyports secures £ 2.56m investment in Serie B led by ST Engineering Ventures – UK technology investment news