Chinese aviation company and drone maker Yuneec just announced that it has secured more than $60 million USD financing from Intel.
The investment marked yet another hefty capital injection to China’s red-hot drone market, following Ehang’s $42 million USD B round settled this week and DJI’s $75 million USD funding raised in May this year.
Yuneec’s core technologies power its manned aircraft as well as its drones and radio controlled aircraft for the hobby market. The company’s flagship product Typhoon Q500 is a radio-controlled quadcopter featured 4k camera and innovate features like WatchMe which can follow a user’s movements on the ground.
Powered by a built-in Android touch screen, the gadget is easy to use for beginners who can control the device and take off in five minutes, said Yuneec’s CEO Tian Yu.
In addition to drones, Yuneec is also a developer of manned aircrafts. It products include E430, a two seat electric powered airplane and E-Spyder, a single seat electric powered aircraft.
Founded in 1999 in Hong Kong, Yuneec has over 1800 employees spread in Hong Kong, Shanghai, Los Angeles and Hamburg. The company claims to have the capacity to manufacture over 1 million units a year, sold under OEM/ODM brands as well as the Typhoon brand of multi-copters.
This isn’t Intel’s first investment in drone business. The software company has previously invested $10 million PrecisionHawk and an undisclosed sum in Airware.
Related Articles:
Ghost Drone Maker Ehang Raises $42M USD To Tap Commercial Quadcopter Territory
Drone Developer DJI Pockets US$75M from Accel Partners
DJI & Youku Tudou Announce Partnership At Phantom 3 Launch Event
Image Credit: Yuneec
