Drone Maker Secures $25 Mn Funding, Launches Hover Camera Drone

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Chinese drone maker Zero Zero Robotics on Wednesday launched a consumer hover camera drone that is unlike any other similar products available in the market. The company has also announced it has secured an investment of $25 million from a group of investors that include ZhenFund, GSR Ventures, IDG and ZUIG.

The Hover Camera launched by Zero Zero Robotics can carry a 4K video camera and can track people movement, and the entire drone can be folded up to a small box of the size of a book.

The uniqueness of this drone is the propellers of the drone have been placed safely inside the box unlike the conventional drones whose propellers are exposed and stand a chance to injure the user. However, in this drone the sharp blades are hidden inside the fibre enclosure, and the drone can fly ass soon as it leaves the user’s hands.

“I want it to be portable, I want it to be safe, I want it to be user friendly,” said Zero Zero Robotics CEO M.Q. Wang, a former Twitter software engineer. “Our goal is to build personal robotics for anyone.”

The startups having drones as their products are gaining lot of momentum these days and are favorites among investors. In 2014, drone startup secured investment of around $111 million where as in 2015, the same rose to $450 million involving 74 deals.

The Hover Camera maker startup Zero Zero Robotics stand to compete with the two biggest names in the same field – DJI and Yuneec. DJI, the makers of Phantom drones so far have received $105 million investment in two rounds of funding where as Yuneec garnered investments of $ 60 million from Intel Capital last year.

Founded in 2014, Zero Zero Robotics was working in a stealth mode designing various drones. The 80-employee drone maker expects to sell its devices for around $600.

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