- Supports government’s efforts to grow technology ecosystem holistically
- To create at least 100 drones a year, scale its operations globally
Malaysian drone company Meraque Services Sdn Bhd (Meraque) has announced that it is partnering along with Malaysia Debt Ventures Berhad (MDV) in order to facilitate the development of Meraque’s functions and expansion within Malaysia and the Asean region
In a statement, it said it will concentrate on the agriculture, planting, infrastructure and telecommunication sector, through MDV’s specialised financing service.
Ministry of science, technologies and innovation (Mosti) minister Adham Baba said MDV is committed to supporting the government’s efforts within growing the technology startup ecosystem holistically and sustainably.
“MDV is certainly working consistently to improve its financing assistance for high possible technology startups such as Meraque to ensure their growth and enable them to reach their particular maximum potential.
“In the agricultural sector, for example , development and production issues have powered the need for the field to leverage over the latest technology and development to boost agricultural efficiency and ensure further effectiveness in food production with drones getting one of the potential tech solutions, ” he or she said
The cooperation in between Meraque and MDV is consistent with Mosti’s aim to spearhead the development of the local drone technologies industry and will make sure that Malaysia is among the top ten countries worldwide in drone preparedness (regulations) and drone usage (market) by 2030, he added.
Md Razalee Ismail, ceo (CEO) of Meraque, said “Meraque has developed the first Malaysian crossbreed spraying drone in 2020 for the purpose of spraying pesticides and fertilisers at local plantation fields.
“Currently, the company controls the largest market share just for drone spraying providers in Malaysia and are looking to train plus hire at least 500 local talents by the end of 2023 to satisfy the growing requirement of the palm oil plantation sector as well as other big agriculture lands such as durian, rubber, coconut, paddy field and pineapple, ” this individual said.
“Financing from a tech financier such as MDV is crucial to ensure that we could achieve our focuses on as planned, ” he added.
He added that the palm oil plantation sector faces important challenges in terms of labour shortages and a dip in yield plus innovative technology for example drones, robotics plus automation have been utilized by the industry as equipment to assist manual labour and increased produce.
MDV CEO Nizam Mohamed Nadzri said, “As a technology lender, MDV possesses the capacity to support and be familiar with financing requirements of technology companies, hence we are pleased to explore potential partnership along with Meraque to help their expansion journey further. ”