China-based unmanned aerial vehicle and aerospace company Yuneec International has received $60m in funding from semiconductor company Intel, Bloomberg reported yesterday.
The investment is part of a deal that will involve the two companies collaborating on future products, though details have not been disclosed yet.
Founded in 1999, Yuneec initially created small airplanes, including a two seater electric aircraft, before expanding its product offering last year to include drones that carry an ultra-high definition camera for private and commercial use.
Intel’s investment is part of the company’s wider strategy to broaden the market for its semiconductor technology.
Brian Krzanich, chief executive of Intel, said: “At Intel we believe in a smart and connected world. And one of the best ways to bring that smart and connected world to everyone and everywhere has been drones.
“We have got drones on our road map that are going to truly change the world and revolutionise the drone industry.”