After Fresh Investment, Chinese Drone Maker DJI Valued at About $8 Billion
Accel investment amounted to $75 million
ENLARGE
DJI’s drones are easy to fly and shoot high-definition footage, making the products popular with photographers and filmmakers. PHOTO: MARCIO JOSE SANCHEZ/ASSOCIATED PRESS
By
JACK NICAS and
DOUGLAS MACMILLAN
Updated May 6, 2015 11:43 p.m. ET
2 COMMENTS
Chinese drone maker SZ DJI Technology Co. secured a $75 million investment this week that values the company at roughly $8 billion, according to people familiar with the situation, propelling the firm into an exclusive club of startups and signaling Silicon Valley’s high hopes for the commercial promise of flying robots.
Venture-capital firm Accel Partners said its $75 million investment in SZ DJI Technology is one of its largest ever.
“We think [the drone sector] is still an early market, but one that we think is a new global technology category,” said Sameer Gandhi, who led the investment for Accel, based in Palo Alto, Calif. “This is the company we believe is going to be the leader in that category.”
The Accel deal flows out of broader DJI fundraising talks
reported last month by The Wall Street Journal that could ultimately value the drone maker at around $10 billion. Those talks continue with other potential investors, according to one of the people familiar with the situation.
DJI says venture firm Sequoia Capital already is an investor.
http://www.wsj.com/articles/chinese-drone-maker-dji-raises-75-million-from-accel-partners-1430915407