Malaysian drone solutions provider Aerodyne Group on Monday announced that it has acquired a major stake in Australia-based Sensorem. While no financial details were disclosed, the investment enables Sensorem to consolidate its market position in Australia’s minerals, energy, industrial, and agricultural sector, according to the announcement.
“Recent technological advancements in precision aerial surveying, asset inspection, and data analysis have helped Sensorem enjoy sustained growth in recent years,” said managing director Ed Boxall. He added that the deal will allow the firm to leverage on Aerodyne’s global footprint and economies of scale.
The news comes seven months after Aerodyne made foray into the Middle East market by inking a strategic investment with drone player FEDS Group Holdings. In February, the group secured additional investment in a round co-led by Chinese VC firm North Summit Capital to help accelerate the firm’s expansion in China, India, and Japan.
Founded in 2014, the Kuala Lumpur-headquartered company uses analytics and smart sensors to provide drone-based solutions to its clients in the oil and gas, power, telecoms, renewables, construction, agriculture, and infrastructure industries. Last October, the firm raised USD 30 million in a Series B round led by InterVest and Kejora Ventures, while VentureTECH, Gobi Partners, and 500 Startups also participated in this round.