Yuneec Grabs $60M In Funding From Intel

Chinese Drone Startup Yuneec Grabs $60M In Funding From Intel

A second Chinese language drone startup has disclosed main funding this week. Intel introduced it put $60 million into Shanghai-based Yuneec, simply two days after rival EHANG publicized a $42 million Sequence B.

Each EHANG and Yuneec are up towards DJI, yet one more Chinese language drone startup, which raised $75 million from Accel Companions in Could to construct a software program ecosystem for builders and runs its personal fund, known as SkyFund, for investments in companies associated to unmanned aerial autos.

In a video to mark the Intel funding (embedded beneath), Yuneec founder Tian Yu says his firm’s drones, which embrace variations for shopper and enterprise customers, differentiate by being straightforward to make use of, with a built-in display for a controller, so even newbies can fly them simply 5 minutes after unboxing.

Intel and Yuneec plan to collaborate on tasks, however haven’t revealed what they’ll develop. That is the third drone startup Intel has invested in thus far. The opposite two are Airware, which makes industrial drone software program (and likewise has its personal UAV fund) and PrecisionHawk, a sensor maker and information evaluation platform.
Because the drone market enjoys fast development, enterprise capital companies have poured funding into startups. In response to CB Insights, drone firms had raised $172 million by Could 2015, greater than the earlier three years mixed.

Which means the buyer drone market is changing into crowded and corporations like Yuneec, EHANG, DJI, and U.S. rival 3D Robotics must deal with honing UAVs and software program for enterprise customers. By investing in startups that cowl drone , software program, and information evaluation, Intel seems to be set to begin constructing an ecosystem that may not solely use its semiconductors, but in addition diversify income past chips because it recovers from a number of quarters of sluggish income development.

Aline Niyonkuru

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