Terra Drone Invests in Aloft Technologies
March 19, 2024
Japan-based Terra Drone has invested in Aloft Technologies, becoming Aloft's largest shareholder and making the company an affiliate. The deal gives Terra Drone a foothold in the U.S. market and aims to accelerate global UTM (Unmanned Traffic Management) development by combining Aloft's FAA-approved LAANC and fleet-management platform with Terra Drone's AAM capabilities.
- Buyers
- Terra Drone Corporation
- Targets
- Aloft Technologies, Inc.
- Industry
- Aerospace & Defense
- Location
- District of Columbia, United States
- Transaction Type
- Growth capital
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