Foyoung Drone, developer of UAV automatic patrol and inspection system closes multi-million-yuan Series A

Foyoung Drone, the developer of the UAV automatic inspection system, has raised tens of millions of yuan in its Series A round of financing in November last year. The round was jointly invested by Zhonghuijin and Envision Capital. This round of financing is mainly used for R&D, marketing investment and stock preparation.

Foyoung Drone, the developer of the UAV automatic inspection system, has raised tens of millions of yuan in its Series A round of financing in November last year. The round was jointly invested by Zhonghuijin and Envision Capital. This round of financing is mainly used for R&D, marketing investment and stock preparation.

Founded in 2018, Foyoung Drone mainly develops UAV automatic patrol and inspection systems for industrial applications, including hardware products such as automatic launching pads, UAV automatic flight algorithms, and AI image recognition and cloud management and control platforms. The UAV is provided by DJI, and the company is also a DJI ecological enterprise in the industry.

Based on Foyoung Drone’s full range of products, the full process automation of UAV inspections including site inspection, flight process, and image recognition, has been achieved, so that clients can remotely control and complete inspection work in the office or in their cars.

Foyoung Drone currently focuses on government and enterprise clients. Its customer acquisition is mainly through channels such as exhibitions, media, and industry partners. The company is also equipped with a marketing team for key accounts.

As the technology and products mature, the company will expand overseas markets with higher labor costs, including overseas private security sector.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/19/foyoung-drone-developer-of-uav-automatic-patrol-and-inspection-system-closes-multi-million-yuan-series-a/.

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