Ehang, a San Francisco, CA- and Beijing, China-based maker of drones, closed a $10m Series A funding.
The round was led by GGV Capital with participation from angel investors Xiaoping Xu, Nick Yang, and PreAngel, a fund focused on early stage startups.
The company intends to use the funds to expand its team, ramp up manufacturing efforts and accelerate growth both in China and the United States.
Led by Derrick Xiong, co-founder, Ehang offers the Ghost Drone which can be controlled by a smartphone app, sends an alert when the battery is low without requiring any assembly or a separate remote control. The company, which has tested the Ghost Drone at a variety of concerts, marathons, and sporting events, plans to ship them before end of January 2015.
Its crowdfunding campaign launched on Indiegogo on November 10th 2014 surpassed its $100,000 Indiegogo goal in the first twenty-four hours and has raised over $600,000 to date.
The Ghost Drone is available to pre-order for $375 at Indiegogo: https://www.indiegogo.com/projects/ghost-drone-aerial-filming-has-never-been-easier