EHANG, makers of the Ghost Drone has received an impressive $42 million Series B in order to accelerate its process of developing new technology and launching of new products. The investment round was dominated by GP Capital, and it also included representations by investors such as GGV Capital, PreAngel, ZhenFund, OFC, and Lebox Capital.
EHANG is responsible for development of the app-controlled Ghost drone, which launched at the beginning of the year. The startup had already raised an investment of $10 million in December. According to representatives of the company, the new round of investment will be used to develop new products, which will be launched this year as well. The company also intends to diversify its product portfolio and expand its app ecosystem. The company’s current flagship drone, Ghost, follows its operator and adjusts its directions in accordance with the movements of the smartphone.
According to the chief executive officer of the company, Huazhi Hu, the company plans to incorporate advanced technology into its next generation products. In addition to that, the expansion plan includes enhancement of the company’s distribution channels and post-sales services.
The seriousness of the company’s growth plans can be exhibited by the fact that the company filled the positions of four executives. All the executives have impressive resumes as one of them is the previous vice president of Lenovo Group and one is the former sales director of Microsoft China. By associating with such high profile names, EHANG exhibits some serious potential for growth in the drones market in the near future.
The inclination of such high profile tech executives towards a drone startup and such impressive rounds of investment show that EHANG has serious potential which can help the company secure a pioneering position in the blooming industry for individual and industrial use drones.