South Korea: Pablo Air Drone Services Attracts New Investment of USD15.5 million

South Korea-based Pablo Air, a drone and UAS oper­a­tions com­pa­ny, announced last week it has attract­ed a USD15.5 mil­lion invest­ment from a Series A — 111 round. To date, the com­pa­ny has raised USD28.41 mil­lion over six rounds and aims for a pos­si­ble stock mar­ket list­ing in the sec­ond half of 2024, reports kedglobal.com.

Investors of the lat­est round include Korea Devel­op­ment Bank, Be-High Invest­ment-Kiwoom Asset Man­age­ment, Lee Soo-man (an indi­vid­ual investor), Daishin Secu­ri­ties-SBI Invest­ment, Yuan­ta Secu­ri­ties, Xplor Invest­ment and Masang Soft.

Found­ed in 2018, Pablo Air is a tech­nol­o­gy-focused com­pa­ny with exper­tise in “unmanned mobile autonomous swarm flight” and an “inte­grat­ed con­trol sys­tem” at its core. It is engaged in drone deliv­ery ser­vices, Urban Air Mobil­i­ty (UAM) oper­a­tions and drone light shows, as well as unmanned defence mobile vehi­cle projects.

The arti­cle states, “With this new invest­ment, Pablo Air aims to expand into inter­na­tion­al mar­kets. The com­pa­ny is plac­ing par­tic­u­lar empha­sis on sell­ing per­for­mance drones devel­oped with its own tech­nol­o­gy and expand­ing a pres­ence at inter­na­tion­al drone shows.”

The com­pa­ny recent­ly appoint­ed Ken­ny (Won-kyung) Kim as the Vice Pres­i­dent of its U.S sub­sidiary. Kim over­saw the drone light show event at the 2018 Pyeong Chang Win­ter Olympics while work­ing for Intel. Pablo Air is devel­op­ing export net­works for drone sales that can per­form mul­ti­me­dia shows with a ful­ly equipped mass-pro­duc­tion sys­tem.

Fur­ther­more, Pablo Air last year obtained both flight oper­a­tor licens­es and night flight approvals for com­mer­cial­is­ing deliv­ery drone ser­vices in South Korea, where the com­pa­ny opened its first deliv­ery cen­tre in the coun­try.

In the field of UAM, Pablo Air aims to expand the domes­tic and inter­na­tion­al drone mar­kets. This includes devel­op­ing drone traf­fic man­age­ment (UTM), analysing and digi­tis­ing drone and avi­a­tion indus­try trends, as well as estab­lish­ing the required ecosys­tem infra­struc­ture.

Kim Young-Joon, CEO of Pablo Air, com­ment­ed, ”The funds raised in this lat­est invest­ment will be a cor­ner­stone for inten­si­fy­ing our tech­no­log­i­cal capa­bil­i­ties and secur­ing prof­itabil­i­ty. We plan to rein­vest 10 per­cent of the mon­ey into star­tups that can syn­er­gise with us and help cre­ate the UAM ecosys­tem.”

The com­pa­ny launched a con­sor­tium in June, 2022 with LG Uplus, Jeju Air, GS Cal­tex, Kakao Mobil­i­ty and Ver­ti­cal Aero­space to com­mer­cialise its UAM pro­gram. It signed an agree­ment to par­tic­i­pate in the Kore­an government’s Korea Urban Air Mobil­i­ty Grand Chal­lenge (K‑UAM GC).

Kim Young-Joon

Pablo Air is cur­rent­ly co-devel­op­ing a UAM traf­fic man­age­ment plat­form with LG Uplus and an urban land­ing plat­form oper­a­tion sys­tem with GS Cal­tex.

For more infor­ma­tion

https://pabloair.com/eng/main/main.html

(News Source: www.kedglobal.com)

(Images: Pablo Air)