DJI Set to Become the World’s First Billion Dollar Drone Company

The Chinese company DJI has become a leader in the civilian market for drones after raising over $75 million from the venture capital firm Accel Partners. This deal, along with the $30 million investment by Sequoia Capital last year, puts DJI’s value at approximately $8 billion as well as having the distinction of being one of Accel’s largest investments ever.

DJI has slowly become one of the most popular names in the drone market. With products such as the four-rotor Phantom 2 drone and the Inspire 1, DJI’s drone offering ranges from standard to higher end models costing in a range from $859 to over $2,900. The company is now on track to exceed $1 billion in sales this year, which shows as a great feat as revenue for the company came in at $500 million last year with $120 million in profit. Over 400,000 units were sold last year and sales have either tripled or quadrupled every year between 2009 to 2014.

Founded by Frank Wang in 2006, DJI is a Chinese technology company headquartered in Shenzhen, China. The company manufactures commercial and recreational UAV (unmanned aerial vehicles) and stands as a leader in the civilian drone industry. Their products range from flying cameras, flying platforms, flight controllers for multi-rotors, accessories for helicopters, camera gimbals (aerial, handheld) and ground stations. All of their products are used in a wide variety of applications such as industrial, professional, and amateur use.

Although drones have been commonly used by military and intelligence agencies, civilian usage has been on the rise. DJI drones have been used for hurricane hunting, 3-D landscape mapping, search and rescue, farming, and nature protection operations. As the popularity of their products increased, the American Federal Aviation Administration (FAA) has set and is looking to propose new regulations and guidelines to ensure proper operation of the vehicles.

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