Yuneec Holding Ltd., a Hong Kong-based electric aviation company, raised $60m in corporate venture capital.
Intel Capital made the investment.
The company intends to use the funds to accelerate its product marketing and development efforts.
Founded in in 1999 Led by CEO Tian Yu, Yuneec is an electric aviation company with over 1,800 employees located in Hong Kong, Shanghai, Los Angeles, and Hamburg. With hundreds of patents filed, the company’s core technologies power its manned aircraft as well as its drones.
In 2014, Yuneec introduced the Typhoon Q500. In 2015, it added a 4K version with innovative features such as WatchMe to capture videos.
The companies also will collaborate on future products.