Asia PacificBreaking News

$3 M invested in Skyports by SG engineering firm’s VC arm

The VC arm of Singapore-based ST Engineering contributed US $3.13 million to the closing of the series B capital round of Skyports, a UK-based infrastructure provider for advanced air mobility (AAM).

The oversubscribed series B round, which included investors from GreenPoint, Kanematsu Corporation, Goodman Group, and 2i Aeroporti, brought in a total of US $26.13 million for the firm.

Since the beginning of 2021, Skyports has collaborated with ST Engineering on reservoir monitoring and inspection for Singapore’s public utilities board.

The collaborative operation makes use of ST Engineering’s DroNet drone system and Skyports’ experience in flight operations to undertake autonomous BVLOS flights throughout the city-network states of reservoirs.

Early in 2022, the two businesses established a company with Sumitomo Corporation to offer ship-to-shore drone delivery services for packages in Singapore.

After the fundraising, Skyports wants to improve relationships with industry partners, authorities, and other parties to create better AAM-based solutions.

In order to create a fully functional vertiport network, Skyports and AirAsia Aviation Group Limited’s specialized AAM business inked a contract in July. The firms will work together to identify viable venues and operational needs for the project’s implementation, as well as to perform feasibility studies for integrating the network.

 

 

SHARE

Related Articles

Back to top button