Drone Company DJI Preparing Funding Round with $10 Billion Valuation
David Curry | | Apr 16, 2015 09:18 AM EDT |
(Photo : DJI) DJI is planning a major funding round to keep the company going.
Chinese drone firm DJI is looking for venture capital investors for a new funding round that could value the company at $10 billion. The valuation would put DJI at the same level as some of the elite Silicon Valley startups like Snapchat and Tinder.
DJIs drones come at a hefty price of around $1,000 to $3,000 and are fitted with some professional level equipment to interest more than the casual drone fan. Several professional media organizations and government contractors have Phantom and Inspire drones.
Like Us on Facebook
This view on drones has pushed DJI to the top of the food chai. DJI currently holds the most market share for drones. DJI CEO Frank Wang said "we are proud to say that we have been leading the industry since we started -- even now," in a Wall Street Journal interview last year.
Even though drones are still under some scrutiny from governments, it looks like the adoption rate is spiking as more customers and businesses become interested. The advantage of drones for security purposes is also becoming more apparent and has led to a rise in security applications for DJIs Phantom and Inspire.
The film industry may soon be relying on drones for more impressive action shots, allowing directors to create massive scenes without having to add too much CGI into the shot.
DJI wants to be part of this mainstream adoption by putting itself front and center. It already offers easy to use platforms for the drones, alongside investments into new technologies like 4K recording and 4G LTE/WiFi ac connection.
It might struggle to compete in the commercial end of the drone market since companies like Amazon, Facebook and Google are investing heavily into commercial drones capable of delivering packages, sending letters and offering enterprise security.
The investment might help DJI work on these tools with Accel Partners and Kleiner Perkins Caufield and Byers both looking into the valuation. It doesn't look like any technology company wants to grab a slice of DJI in the first major funding round.
With companies like Alibaba and Xiaomi both showing the power of the Chinese tech industry, DJI is yet another company beating U.S. and European counterparts with better design and performance on its own drones.
TagsDJI, drones, venture capital funding
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?