The world’s largest drone maker is quickly becoming one of China’s most powerful homegrown companies. DJI announced today that it has raised another $75 million in venture capital funding, and recent talks with investors have reportedly pegged the value of the company at a whopping $10 billion.
The Verge reports that this latest infusion of cash comes from Accel Partners, a Silicon Valley firm that’s well known for its early investments in companies such as Facebook and Dropbox.
DJI says it’s on track to double sales this year and generate around $1 billion in revenue from drone sales around the world. Not bad for a company that was founded in 2006 by then-26-year-old engineer Frank Wang, who has now become the world’s first drone billionaire (he owns about 45% of the company).