Shenzhen, China, 8 February 2020 - North Summit Capital co-led the $US 30 million Series B investment of Aerodyne, the world leading drone-based managed solutions provider. Other strategic investors included KWAP (sovereign wealth fund of Malaysia), Leave a Nest from Japan and Arc Ventures from India.
Aerodyne Group is a world-leading provider of drone-based enterprise solutions and a pioneer in the use of AI as an enabling technology for large-scale data capture and analytics. Serving enterprise clients in global critical infrastructure and related sectors across 25 countries, the Malaysian-headquartered, 5-year old Aerodyne is ranked third globally by Drone Industry Insights in its 2019 Drone Service Provider Ranking. It was recently named Frost & Sullivan's 'Asia Pacific UAV Services Company of 2019 and Institute of Engineering and Technology (IET) Malaysia's Industry Excellence Gold Award 2019. Aerodyne is also a company under the Global Acceleration Innovation Network ('GAIN') program under Malaysia Digital Economy Corporation ('MDEC').
Aerodyne's website: www.aerodyne.co.
Aerodyne's Founder and Chief Executive Officer, Kamarul A Muhamad stated, "We look forward to our exciting journey ahead with our strategic partner, North Summit Capital. Not only does the partnership help expand our global footprint, it also can help deepen our cloud-based, AI-enabled automation and analytics capabilities, expediting R&D activities and resolving service efficiency bottleneck of Aerodyne, which is a key prerequisite for our ambitious global market expansion plan."
Also much hopeful about the partnership, MDEC's CEO, Surina Shukri commended Aerodyne for being an exemplary Malaysian-homegrown tech firm deploying state-of-the-art drone-based solutions across vast industrial sectors globally. "This latest expansion into China and India is a momentous achievement for not only the organization but the nation as a whole." Surina told media.
Dr. Wanli Min, the founder and CEO of North Summit Capital fund, a PhD in Statistics from The University of Chicago elaborated, "North Summit Capital is excited to co-lead Aerodyne's Series B investment alongside other value-oriented strategic investors. We see great potential of Aerodyne's large-scale data capture and analytics solutions to global critical infrastructure and related sectors. To help supercharge its growth, we will help Aerodyne beef up its service efficiency by injecting DT (Data Technology) into product development. North Summit Capital will also help Aerodyne penetrate into Middle East and China."
Prior to North Summit Capital, Dr. Min held the position of VP and Chief Machine Intelligence Scientist at Alibaba Cloud. He has redefined AI as "actionable, accessible and affordable intelligence" by his pioneering work for over 100 clients in traditional industries (agriculture, manufacturing, smart city, healthcare, retail), some of which won international industry awards. Recognizing his contribution, Forbes named Dr. Min one of "China's AI Leader" in 2017 and the Ministry of Science & Technology, People's Republic of China, appointed him an Advisor on the National Committee of Next-generation AI Strategy.
With North Summit Capital, Dr. Min will leverage on capital to scale up his unparalleled DT2 (Data Technology and Digital Transformation) methodology and best practices to spearhead digital transformation across the globe. Foreseeing huge potential of productivity uplift from AI, cloud computing and DT2, North Summit Capital focus on socially critical industries of agriculture, manufacturing and healthcare. Complementary to capital investment, North Summit Capital actively inject proven proprietary DT2 solution to help portfolio company materialize that potential and enhance valuation.