Ehang, the developer of Indiegogo crowdfunding hit Ghost Drone, has raised $42 million USD in series B funding led by GP Capital with participation of existing investors GGV Capital, Zhen Fund, Lebox Capital and Oriental Fortune Capital.

Ehang did not disclose the valuation of this round, but indicates that it is 100 times that of 16 months ago when the startup was founded.

The money from this latest investment will go toward R&D for both personal and commercial drones, market expansion, and expanding the team. Hu Huazhi, the company’s founder and CEO, disclosed that the drone maker has welcomed four former managers from Chinese internet giants onboard recently.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.