EWatt Technology, a Wuhan, China-based developer of industrial-grade Unmanned Aerial Vehicles (UAVs) and implementing complete UAV solutions for industrial and security purposes, closed a $20M Series B funding round.
The round was led by Chaoyong Wang, founder of the China Equity Group.
The company intends to use the funds for the construction of a new UAV production base to expand the domestic market share, for new product development, big data managing platform development, and the expansion of a flight services business to further promote product development and commercial market expansion for us in the civilian market.
Founded in 2010 by Guocheng Zhao and four partners, EWatt Technology specializes in developing industrial-grade UAVs and implementing complete UAV solutions for industrial and security purposes. Its primary business activities include the research, design, and development, and production of unmanned aircraft and payloads. The company also provides a range of UAV services, including implementing complete UAV solutions. It offers a full range of UAV aircraft including multi-rotors, fixed wings and helicopters, and offers a broad range of UAV payloads.
EWatt currently has more than 300 employees.