Silicon Valley bets on Naija war drones

Palantir co founder Joe Lonsdale has led an $11.8 million seed investment into Abuja based Terra Industries, a drone startup expanding amid regional security threats.

Palantir Technologies Inc. co-founder Joe Lonsdale has led an investment in a Nigerian defence technology startup expanding drone manufacturing amid intensifying security risks across Africa. Abuja-based Terra Industries, also known as Terrahaptix Inc., said it raised $11.8 million in a seed round led by 8VC, which Lonsdale founded. The round included participation from Lux Capital, Valor Equity Partners, Silent Ventures, SV Angel, Leblon Capital, Nova Global, and angel investors, including Ribbit Capital managing partner Meyer Malka. Alex Moore, a defence-focused investor at 8VC and a non-executive director at Palantir, joined Terra’s board last year, the company said.