Flypro Aerospace Technology, a China-based consumer drone manufacturer backed by conglomerate Yihua Group, has secured RMB150m ($23m) in series B funding, China Money Network reported on Monday.
The round was led by private equity firm Shenzhen Capital Group.
Founded in 2012, Flypro markets small drones that are capable of flying autonomously and tracking a user at a preset distance and altitude while recording video. The vehicles are targeted at filmmakers, photographers and hobby enthusiasts.
Flypro claims it has now entered mass production and will begin fulfilling pre-orders for the product.
Yihua led a $12.4m series A round for Flypro in November 2015. The company had concluded a crowdfunding campaign in February 2015, raising approximately $130,000 to fund production of its first product.
– Image courtesy of Flypro