Intel Invests $60 Million In Chinese Drone Maker Yuneec

Investors are opening their checkbooks to China-based drone makers, after Chinese drone manufacturer DJI became the country’s first company to pioneer a major new consumer product category.   Yuneec International, a Shanghai-based drone and aerospace company founded in 1999 that makes drones and electric-powered airplanes, has secured a more than $60 million […]

Sourced through Scoop.it from: www.forbes.com

Yuneec International, a Shanghai-based drone and aerospace company founded in 1999 that makes drones and electric-powered airplanes, has secured a more than $60 million investment from Intel’s venture capital arm. Intel has also invested in drone companies Airware and PrecisionHawk as it seeks to sidestep the declining PC market by betting on the possible commercial use of drones.

Intel and Yuneec will jointly develop products, Intel Chief Executive Brian Krzanich said in a video announcement. The two companies have got “drones on our road map that are going to truly change the world and revolutionize the drone industry,” he said.   Earlier this week, Yuneec’s younger peer Ehang raised $42 million in its series B round led by GP Capital, an investment fund managed by Shanghai International Group. GGV Capital, Zhenfund and a number of investors also participated in the fundraising.  

See on Scoop.itInternet of Things – Company and Research Focus

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s