Antwerp-based Unifly, an Unmanned Traffic Management (UTM) system provider, announced on Tuesday that it has secured €10M in funding from Terra Drone Corporation and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN).
This investment marks JOIN’s first investment in the drone industry. Through this investment, JOIN and Terra Drone intend to support the development of the UTM system, which enables safe and efficient drone and aircraft flight management.
The Belgian company will use the proceeds to continue product development and solidify its position in the UTM system market.
Andres Van Swalm, co-founder of Unifly, says, “The investment of Terra Drone and JOIN strengthens Unifly’s position as the sustainable UTM partner for the future. Unifly is here to stay– we are very happy to announce our new shareholders and continue with existing shareholders. This investment enables us to continue to build on the success of Unifly and pursue our vision of enabling autonomous aviation.”