Intel Capital invests $60m in China drone maker Yuneec

Yuneec was founded in 1999 and has over 1,800 employees in Hong Kong, Shanghai, Los Angeles and Hamburg. It makes drones for consumer market as well as manned electric aircraft. More than one million units are produced each year.

In addition to serving as an original equipment manufacturer (OEM) and an original design manufacturer (ODM), Yuneec has its own brand - Typhoon. The latest Typhoon Q500 model, which comes with 4K video recording, can be set up to follow a user automatically. It claims the new smart mode allows beginners to start using a drone within five minutes.

"At Intel we believe in a smart and connected world. And one of the best ways to bring that smart and connected world to everyone, and everywhere has been drones," Intel Corporation's CEO Brian Krzanich said in a video when announcing the investment. He called Yuneec's technology is "a game changer in the drone industry."

Yuneec's funding comes after Ehang, another Chinese drone maker, raised $42 million in a Series B round of investment. The companies' major rival is DJI, which secured $75 million from Accel Partners three months ago, at a reported valuation of $8 billion. Accel and DJI then agreed to form a $10 million fund that backs other start-ups in the space.

Last year, Chengwei Capital Partners invested $20 million in a Series A round for XAircraft Aerial Solutions, a Chinese multi-rotor and drone maker.

Intel previously also invested in US-based drone companies Airware and PrecisionHawk.

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• Topics
• Greater China
• Expansion
• Technology
• China
• Intel Capital
• Technology
• Growth capital