Intel Pumps $60M Into Chinese UAV Company Yuneec
BY Alan Perlman27 August 2015
SANTA CLARA, Calif. Aug. 27, 2015 –Intel Capital has invested more than $60 million in Yuneec Holding Ltd. (“Yuneec”), a worldwide leader in electric aviation. The announcement was made by Intel CEO Brian Krzanich and Yuneec CEO Tian Yu in a short video partially shot by Yuneec’s Typhoon 4K drone.
The two CEOs said their companies also will collaborate on future products.
“We believe drones have the potential to positively change lives in many ways, whether that’s delivering consumer goods or inspecting disaster sites. And with the coming addition of Intel technology inside, Yuneec’s smart drones can create amazing possibilities,” said Krzanich. “We’re pleased to collaborate with a leader in this important new space.”
Yuneec intends to use the funding to accelerate product marketing and development.
“With our deep IP and control over manufacturing, Yuneec is singularly positioned to expand the consumer drone market,” said Tian Yu, CEO of Yuneec. “Our drones are manufactured to be ready to fly ‘out of the box’ and ensure stable, smooth flying and video capture.”
To see the announcement video, please visit intel.ly/news.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,440 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world and 373 were acquired or participated in a merger. In the first half of 2015, Intel Capital invested $134 million in 63 deals, including 29 new portfolio companies, and saw 10 exits. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Founded in Hong Kong in 1999, Yuneec is the world leader in electric aviation and has over 1,800 employees located in Hong Kong, Shanghai, Los Angeles, and Hamburg. With hundreds of patents filed, Yuneec’s core technologies power its manned aircraft as well as its drones. In 2014, Yuneec introduced the world’s first ready-to-fly, out-of-the-box drone, the Typhoon Q500, and in 2015, Yuneec added a 4K version with innovative features such as WatchMe to make it even easier to capture the perfect video. For more information, visit www.yuneec.com.