Dubbed the ‘Model T’ and ‘Apple’ of drones, China’s DJI rakes in $75M funding

Shenzhen DJI Technology, the world’s biggest make of consumer and prosumer aerial drones, this week announced a US$75 million investment from Accel Partners, according to the Verge. Now valued at US$10 billion, it’s the undisputed champ both in sales revenue and in market cap. Accel’s injection values the company at US$8 billion, but the company is reportedly in ongoing negotiations that will raise its valuation even further.

DJI expects to sell US$1 billion worth of drones this year, up from US$130 million in 2013. Previous investors include Sequoia Capital, but the company has taken in relatively little funding up to this point.

DJI released the latest model in its popular Phantom line last month. The Phantom 3 sells for US$1,259 and US$999 for the Pro and Advanced versions, respectively.

While many drone makers are opting for DIY, modular, and even fully open-source models, DJI has steered sharply in the opposite direction. The company refers to itself constantly as a "platform," indicating it has plans to create a larger ecosystem branching out from its drones. Much like Apple, the Chinese firm’s Phantom and Inspire series are difficult to modify, easy to use out of the box, and run on their own custom software.

Because of its ubiquity, DJI’s quadcopters have been called the Model T, Kleenex, and Apple of the drone world by international media.

DJI’s drone sales have mainly been limited to rookie pilots, many of which are interested in aerial photography and video. But with this latest funding, the company hopes to expand into other professional verticals, including agriculture, mapping, and search-and-rescue. DJI unveiled a software development kit (SDK) for developers late last year, meaning its software could power other company’s drones in the future.

(Source: The Verge)