Malaysian drone services startup Aerodyne Group has tapped Citigroup for a potential $150M to $200M fundraiser.
The financing, expected to be a Series C round, is reportedly being sought at a unicorn valuation. Aerodyne's fundraising efforts come ahead of the firm's targeted IPO listing, which could happen in 2024 or 2025.
Aerodyne is a drone-based solutions provider that leverages AI and drone data to resolve complex industrial challenges and enable large-scale data operations, analytics, and process optimization.
- The firm has a presence in 35 countries and manages nearly 560,000 infrastructure assets on behalf of clients.
- The firm has raised $60M in total funding to date, which includes a $30M Series B round led by Intervest and Kejora Ventures in 2019.
- The current round may be completed in stages, with the first close expected by mid-year, per sources close to the matter.
