Rex Technology Investments (RTI), a wholly-owned subsidiary of Catalist-listed Rex International Holding, will invest up to US$4 million ($5.38 million) into commercial drone company Xer Technologies.

The investment comprises US$1 million for a 40% stake in Xer, along with a commitment to inject up to US$3 million in the company, subject to the achievement of certain technical and sales milestones by Xer within the next 18 months.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook