Those who are familiar with drone developments must be well acquainted with the leading drone manufacturing company DJI. The company has made remarkable progress over last two years as its Phantom line of Quadcopters became quite a hit with masses.
Now the company is all set to spread its wings further as per recent news from The Verge. Currently DJI is in talks with one of the well known venture capital firms in Silicon Valley to raise a new round of funding. Though the news haven’t been confirmed by the company yet, but those familiar with DJI developments are of the opinion that if this deal goes through then it would be the first drone maker to reach the billion dollar club. In fact, it would be worth several billion dollars!
DJI is improving with years, which is evident from its yearly sales figure. They have earned around $500 million in revenue in the year 2014, which is about four times more than its 2013 turnover. This year they are expected to do around $1 billion sales.
Those who are of the impression that DJI just sell drones for hobbyists will surely change their opinions now. At present they have offices in multiple locations like Shenzen, Tokyo, Kobe Hong Kong, Los Angeles and Rotterdam with a workforce of 2,800 employees. Apart from different variations of its popular Phantom drone, DJI also manufactures higher-end “prosumer” unit, the Inspire One. Then there are larger S-class units and popular line of gimbals commonly used by film and TV professionals.
Started in the year 2006 by a student at the Hong Kong University of Science and Technology, DJI initially centered on designing flight control systems for model helicopters, a passion which the founder wanted to pursue since childhood. Then when the tide started turning in favor of multi-rotor drones, the company decided to change its strategy and take plunge into that market.
The first step DJI took into the drone world was with hobbyist drones. However these devices demanded lots of technical know-how and assembly skills. Then they came up with Phantom which actually helped the Chinese technology company gain global recognition. What drone enthusiasts really loved about the Phantom is that it is so simple that any beginner can take it out of the box and start flying!
Simultaneously it is equipped with powerful flight control systems which drew attention of serious hobbyists, filmmakers, photographers and other professionals. Last but not the least this interesting package comes with a reasonable price tag. No wonder then that it is the Phantom which has contributed to DJI’s major business revenue.
Till date DJI has refrained from taking financial support from outside sources as it believes in bootstrapping on its own. So the recent news of the company seeking venture capital is indeed significant. With competition heating up, they must have thought that this is the prudent step to maintain lead in the market. Also the funding would help them explore some undiscovered segments in the expanding drone market.