Intel Announces $60mn Investment in Shanghai-Based Drone Maker

Intel just announced a more than $60 million investment into Shanghai-based drone maker Yuneec. The news comes the same week that fellow Chinese drone company Ehang raised $42 million, and Sony unveiled its own drone prototype due out in early 2016.

Intel CEO Brian Krzanich called Yuneec’s technology “a game changer in the drone industry,” and said the investment falls in line with Intel’s vision of a “smart and connected world” propelled in part by the evolution of drone technology.

Yuneec’s main rival in China, SZ DJI Technology, also raised $75 million at an $8 billion valuation earlier this year. Intel has notably previously invested in drone companies PrecisionHawk (a $10 million Series B in November) and Airware (an undisclosed amount in April).Read more

Source: venturebeat.com