Akihabara News (Tokyo) — Drone Fund, a venture capital specializing in drone and air mobility, announced that it has successfully reached its ¥10 billion (US$88 million) target for its third fund.
Drone Fund III was launched in May 2020. It was able to reach its investment target with critical recent support from Japan Investment Corporation, as well as Logistics Innovation Fund Investment, Nakashima Propeller Company, Yoshimasu Manufacturing Company, and Proto Ventures II Investment.
Other major companies contributed to Drone Fund III shortly after it was announced last year.
As for the purpose of Drone Fund III, the official statement explains that it had been established “to promote the further social implementation of drone and air mobility.”
“Drone Fund aims to maximize the use of the communication infrastructure, including the next generation communication standard 5G, and to achieve digital transformation of industrial activities—such as automation and remoteness of field operations through the network with business companies participating as limited partner investors,” it continues.
Separately, Drone Fund III has just made an investment in Germany-based Wingcopter, which it believes may become a market leader in medium- to long-distance drone delivery services.
In April, All Nippon Airways (ANA) announced that it had formed an agreement with Wingcopter to test strategies for connecting small island communities throughout Japan via drone deliveries.
Wingcopter CEO Tom Plummer said of the Drone Fund investment that it “comes at a time when we are intensifying our efforts on the Japanese market. We are convinced that the Drone Fund team will open doors, allowing us to bring drone delivery services to more customers in Japan and beyond.”
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