News Column

XAIRCRAFT Finances USD20mn

September 1, 2014

SHANGHAI, September 1, SinoCast -- XAIRCRAFT, one of the first multi-rotor unmanned aerial vehicle developers in China, has completed A-Round financing of USD 20 million from Chengwei Capital, a fund in Silicon Valley.

XAIRCRAFT founder Peng Bin shows that the financing will be invested in R&D, industry chain building and market promotion of UAV technologies.

XAIRCRAFT was established by Peng Bin, former MVP of Microsoft China, in 2007; then it brought in fo-founders, Justin Gong, a senior journalist from Australia, and Yi Binghong, a Chinese well-known market expert.

The company has grown a large customer base in fields like small UAV, especially multi-rotor UAV.

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Source: Sinocast Transportation Beat (China)

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