Accel Partners has invested $75 million in Chinese drone developer DJI, helping make it “one of the leaders in the burgeoning civilian market for drones,” The New York Times reports. The investment comes amidst struggles to regulate unmanned aerial vehicles, particularly for safety and privacy reasons. Accel Partner Sameer Gandhi said, “The size of our investment really shows how big we think the opportunity can become … For one of the first times, you’re seeing an international company, a Chinese company, being the innovator and frankly leapfrogging all activity in other parts of the world and truly being the company everyone is chasing from an innovation point of view.” According to Forbes, DJI is on track to exceed $1 billion in sales this year alone. Editor’s Note: A recent Privacy Perspectives post called for more privacy pros to get involved in drone regulations. (Registration may be required to access this story.)
Full Story