Berkeley, Calif.-based drone company 3D Robotics has announced an expansion of its Series C round of financing from $50 million to $64 million.
The additional funding is led by WestSummit Capital, with additional global investors from Asia, Europe and the U.S. participating, including SanDisk Ventures and Atlantic Bridge Ventures. WestSummit Capital has locations in California’s Silicon Valley, Beijing and Hong Kong.
3DR initiated the Series C financing with $50 million in investment led by Qualcomm Ventures, with Foundry Group, True Ventures, OATV, Mayfield and Shea Ventures.
‘3DR's roots are in a worldwide, open-developer community, so creating an equally expansive global organization is a key part of company strategy,’ says Chris Anderson, CEO of 3DR. ‘China is emerging as a world leader in drone technology and production, and many of the innovative companies there are already using 3DR platforms. We see tremendous opportunity to work with investors and experts in these markets to extend that lead and work more closely with innovative young companies.’
‘We're active investors in the Internet of Things market and see huge promise in 3DR as a leader in next-generation robotics,’ adds David Lam, managing director of WestSummit Capital. ‘WestSummit Capital's China Value Creation capabilities match perfectly with 3DR's cross-border business, embracing Silicon Valley innovation, Asian manufacturing, global competition and the global market.’
3DR was founded in 2009 by Chris Anderson and Jordi Munoz and currently operates with over 275 employees in North America. The company recently introduced what it calls the world’s first smart drone, the Solo.