Terrahaptix records $2M in revenue in year one, as it begins South Africa exportation
On Thursday, December 19, Nigerian drone company Terrahaptix celebrated a major achievement, reaching $2 million in revenue during its first year of operation. The company is now expanding its reach by exporting drones to South Africa for use in mining activities. Terrahaptix signed a contract with DiggingDeep to exclusively distribute its drones to mining companies in South Africa.
DiggingDeep, which specializes in connecting African mining operations with suppliers, will help deliver Terrahaptix drones to South African mining operations. “The mining industry is where we have the most customers,” said Nathan Nwachukwu, founder of Terrahaptix.
These drones will be used for surveying and mapping mining sites, inspecting equipment, and monitoring hazardous areas to improve worker safety. They will also assist in identifying mineral deposits in hard-to-reach locations and monitor environmental impacts, such as air and water quality around mines.
According to Mining Technology, 65% of mines worldwide now use drones, a significant increase from 44% in 2018. The drone market for mining is currently valued at $31.4 billion and is expected to grow to $103 billion by 2031. Drones are essential tools for mining operations, boosting safety, efficiency, and data collection at all stages of the process.
Terrahaptix plans to support major mining operations in South Africa with its drones. While its aerial drones will assist with security and site mapping, ground drones like the Duma will help miners with on-site activities and surveillance.
South Africa is now the fifth African country where Terrahaptix will export drones, joining countries like Congo, Ghana, Kenya, Cote d’Ivoire, and Nigeria. Interestingly, about 75% of Terrahaptix’s sales come from outside Nigeria. The company has exceeded its revenue target of $1.6 million and is on track to make over $2 million in its first year.
Looking ahead, Terrahaptix hopes to dominate the African drone market in the next five years. “This is going to help us solidify our position as a drone leader on the continent,” said Nwachukwu. He believes that Terrahaptix will become a key player in sectors like mining and oil within the next one to two years.
Nwachukwu attributes the growing demand for Terrahaptix drones to a “mining renaissance in Africa,” fueled by the rise of electric vehicles (EVs), which require lithium for their batteries. The volume of lithium production increased by 80% between 2021 and 2023, and as the EV market grows, Terrahaptix could be well-positioned to take advantage of this booming demand.
Despite facing competition from local South African drone companies like Aerobotics, DroneSnap, and Drone Air, as well as larger global drone companies, Terrahaptix has a competitive edge in pricing. Its drones are over 50% cheaper than competitors, thanks to sourcing 80% of materials locally, with sensors and cameras primarily imported from China.
With its strong growth, Terrahaptix is poised for even more international expansion beyond Africa in the near future, making it a company to watch in the drone industry.
