Chinese Drone Startup Ehang Raises $42M Led by GP Capital

Chinese drone startup Ehang, which had launched a mobile-app-controlled camera drone branded “Ghost”, has raised $42 million in series B round led by GP Capital. The round also included investment from GGV Capital, ZhenFund, Lebox Capital, OFC and PreAngel.

The company’s valuation is still undisclosed but as per a TechinAsia report, the figure is 100x than it was 16 months ago when the startup was first established. The startup will use these new funds to accelerate its tech and business development, increase the team size, and “build a UAV ecosystem” based on its apps. The company which has thus far been mostly focused on the consumer space, plans to explore industries like logistics, agriculture, and mapping, and also looks to push into commercial applications.

Ghost drone is available on the company’s website with a price tag of $600-$800, and there are a variety of accessories for sale as well. Here is a video which shows how Ghost takes off.

Other Chinese drone makers startup are Aheadx and DJI, both have recently raised funding to push their drone sales.