Ehang, the global leading civil Unmanned Aerial Vehicle (UAV) company known for the drones has secured $42 million in Series B round of funding led by GP Capital along with GGV Capital, ZhenFund, Lebox Capital, OFC and PreAngel.
Started in 2014 and based in San Francisco Bay Area, Guangzhou, Beijing and Shaigai, the startup Ehang develops aerial systems for recreational and commercial usages with the aim to make use of the sky space better for the people. Ehang with its drones have changed the way of communication, commute and applicable in many fields likes playing etc. It has its users worldwide.
Ehang’s key product is the camera drone named ‘Ghost’ controlled with the help of a mobile app and it is a huge hit in the market. It is sold through its website and other channels for around $600 and more depending on the model. Drone Ghost is considered to be the ‘easiest drone to fly in the world.’ In the last eight months, Ehang has grown rapidly in the competitive drone market with its technology and flagship product.
The new funds from latest round of funding will be used to improve the product further and develop business of Ehang in the global consumer and commercial UAV market. The company also intends to acquire talent and develop a better UAV ecosystem for its intelligent aerial mobile platform.
“We are thrilled to receive the continuous support and recognition of our products and value from so many influential investors, especially in the current tough financial environment,” said Huazhi Hu, founder and CEO of Ehang. “The four senior executives from global 500 and public hi-tech companies also enable us to be a leading player in the UAV industry. We aim to make UAV not only accessible to everyone, but also create more practical value to change people’s lives.”
GP Capital’s spokesperson Haoxiang Hou said, “The innovation, wisdom and passion of the Ehang team is unparalleled. We truely believe that the smart control experience of their drones cab be more widely applied across market sectors and that the company can make a revolutionary breakthrough in UAV technologies.”