After losing Grab—Southeast Asia’s highest-valued private tech company—to Singapore, Malaysia could finally get its very own tech unicorn in the next few years.
Aerodyne Group, a drone-as-a-service (DaaS) company, has soared ever since it raised its first funding round—a double-digit millions investment from a local corporate venture fund, Axiata Digital Innovation Fund, in March 2018. It has since attracted investors such as Malaysia’s civil service pension fund KWAP, Japan’s Drone Fund, and China’s North Summit Capital.
The attention isn’t surprising, considering DaaS is expected to generate US$127 billion worldwide by 2025, while the industry in Malaysia would be worth US$300 million, according to market research firm Drone Industry Insights.