Doosan Mobility Innovation (DMI) has announced that it has secured approximately ₩27 billion (£17 million) worth of investment from IDG Capital, Korea Investment Partners, and DS Asset Management in recognition of its growth potential in the hydrogen mobility business. The funds will be mainly invested in developing logistics cargo drones with hydrogen fuel cell technology.
By securing the investment, DMI has proved its technology in the hydrogen fuel cell mobility sector and its future growth potential.
DMI plans to spend the acquired funds on strengthening its product line-ups. Already, DMI is participating in the national project to develop a logistics and cargo drone with 10-50kg payload. The project aims to complete the commercialisation after 2025, which is the general period when logistics drones are expected to be on full-scale.
“The success of this investment implies that ultra-light fuel cell market possesses high growth potential and future value,” said Doosoon Lee, the CEO of Doosan Mobility Innovation.
The industrial drone market is still dominated by public and military markets, but the private market is also growing in the fields of filming and video surveillance. Global industrial drone market is expected to grow up to US$80 billion by 2030, as it is highly aligned with other industries such as logistics delivery, drone taxi and safety monitoring.