Categories : Intel Capital has invested more than $60 million in electric aviation company Yuneec Holding Ltd., provider of the Typhoon and Tornado families of drones.
The announcement was made by Intel CEO Brian Krzanich and Yuneec CEO Tian Yu in a short video partially shot by the Typhoon 4K unmanned aerial vehicle (UAV).
“At Intel, we believe in a smart and connected world,” Krzanich says in the video. “And one of the best ways to bring that smart and connected world to everyone and everywhere has been drones.”
Yuneec intends to use the funding to accelerate product marketing and development. The companies are also planning to collaborate on future products.
“Together, we believe we can make drones that will truly change the world,” Krzanich adds.
In a release, Yu says, “With our deep IP and control over manufacturing, Yuneec is singularly positioned to expand the consumer drone market. Our drones are manufactured to be ready to fly ‘out of the box’ and ensure stable, smooth flying and video capture.”
Intel Capital, Intel’s global investment organization, makes equity investments in technology start-ups and companies worldwide. Since 1991, Intel Capital has invested nearly $11.6 billion in over 1,440 companies in 57 countries.
Founded in Hong Kong in 1999, Yuneec has over 1,800 employees in Hong Kong; Shanghai, China; Los Angeles; and Hamburg, Germany. In 2014, Yuneec introduced what it calls the world’s first ready-to-fly, out-of-the-box UAV, the Typhoon Q500. Earlier this year, Yuneec added a 4K version with features such as WatchMe.
Intel recently invested in other drone companies, including PrecisionHawk and Airware.
“We believe drones have the potential to positively change lives in many ways, whether that’s delivering consumer goods or inspecting disaster sites,” says Krzanich, in the release. “And with the coming addition of Intel technology inside, Yuneec’s smart drones can create amazing possibilities. We’re pleased to collaborate with a leader in this important new space.”
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