AAA DJI to reach $500m heights

DJI to reach $500m heights

China-based consumer drone manufacturer SZ DJI Technology is in the process of securing a $500m series B round from investors including insurance provider New China Life Insurance, China Money Network reported today.

The round values DJI at $10bn and also features New Horizon Capital. DJI has not officially confirmed the round.

DJI was previously reported to be seeking a multi-million dollar round when it disclosed an initial $75m investment from Accel Partners in May 2015.

Kleiner Perkins Caufield & Byers had also offered to participate, according to the Wall Street Journal, though its involvement in the round remains unclear.

Founded in 2006, DJI produces a range of unmanned aerial vehicles ranging from hobbyist models to versions aimed at professional filmmakers as well as the agriculture, conservation, search and rescue, energy infrastructure sectors, among others.

Sequoia Capital injected $30m in series A funding in 2014. DJI had been bootstrapped up until that point.

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