Embraer invests in Latin American drone specialist XMobots
Embraer is taking an interest in drones, buying a stake in the largest drone company in Latin America with the aim of opening up new market areas.
The Brazilian aerospace manufacturer is acquiring a minority shareholding in XMobots, based in the countryside of São Paulo, via an investment fund, it announced on September 20, 2022.
“The deal aims to accelerate the future of the medium and large autonomous drone market and jointly explore new market niches,” Embraer declared in a press release.
XMobots specializes in the development and manufacture of high-performance VTOL drones and related technologies, providing them for agriculture and geotechnology markets in Brazil and Latin America. It is also working on new projects for logistics and urban mobility.
Once the transaction with Embraer is done, the two companies intend to sign memorandums of understanding to work together on projects in the Civilian and Defense & Security markets.
“Initiatives like this are fundamental to leverage ecosystems, expand knowledge and recognize entrepreneurs who generate businesses with exponential growth potential and high-value creation for society,” commented Daniel Moczydlower, Head of Innovation at Embraer and President and CEO of Embraer-X.
Embraer said the deal includes an option for additional investment in XMobots in the future.
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