Intel just declared a $60 million-plus investment in Hong Kong -based drone builder Yuneec. Recently Ehang a Chinese drone company managed to raise $42 million. Sony Corp (ADR) (NYSE:SNE) just recently revealed its drone prototype slated for release early next year.
Brian Krzanich, Intel CEO described Yunnec’s technology as a potential game changer in the drone arena. He also opined that the investment is in keeping with Intel’s long-term vision of a connected and smart world. The progress of drone technology will partly help attain Intel’s ultimate goal. Led by Brian Krzanich, Intel is pumping funds in emerging technology as part of plans to move the organization away from PC components and into the domain of next-generation technologies.
Earlier in 2015, Yuneec’s premier competitor in China, SZ DJI Technology managed to raise $75 million at an $8 billion valuation. Incidentally, Intel has earlier made investments in drone making companies such as Airware and PrecisionHawk.
Established in 1999, Yuneec is an electric aviation player in the business of making electric powered helicopters, airplanes as well as micro-copters. The organization is famed for products such as the Typhoon multi-copter series, the single-seat electric E-Spyder aircraft, and others.
Tian Yu, chief executive of Yuneec, said that a controller device having a built-in screen along with a smart mode enables the drone hardware pretty simple to learn for starters. Also, new users can get their drones take off within five minutes of using the device.
Krzanich declared that by teaming up the two organizations can create drones that will genuinely transform the world. Meanwhile, tech giants such as Google Inc (NASDAQ:GOOG), Facebook Inc (NASDAQ:FB) and Amazon.com, Inc. (NASDAQ:AMZN) are very active in the business of developing their own drones.
The Intel and Yuneec alliance blends Intel’s investment and Yuneec’s considerable experience in the drone industry. The Hong Kong-based firm has an enviable stock of hundreds of filed patents. The day is not far off when Intel chips will be utilized to power Yuneec designs.