Intel Invests $60M In Chinese Drone Maker Yuneec

Yuneec International Co. Ltd., a Kunshan, Jiangsu-province based drone maker, has received US$60 million investment from Intel, according to a video announcement made by Intel.

Founded in Hong Kong in 1999, Yuneec has over 1,800 employees located in Hong Kong, Shanghai, Los Angeles and Hamburg, Germany.

Yuneec makes over one million units a year, including drones, as well as radio control electric powered airplanes.

No information is available about the company’s previously funding rounds.

Intel has previously invested in two drone manufacturers: California-based Airware and North Carolina-based PrecisionHawk.

Another two Chinese drone makers have received venture investments lately. Beijing-based Ehang Technology Co., Ltd. completed US$42 million series B round of financing led by GP Capital earlier this week.

In April, Shenzhen-based DJI Technology Co. was reportedly raising hundreds of millions U.S. dollars in a new funding round at a valuation of U$10 billion.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.