Intel Corporation (NASDAQ:INTC) has announced that its venture capital firm has decided to invest more than $60 million in Hing Kong-based drone maker Yuneec. The chip maker and Yuneec Holding Ltd. would partner on product development, and Intel chips might be incorporated into its drones.
Venture capitalists and companies believe that drone technology could be beneficial to consumers in the future. Intel CEO Brian Krzanich want to venture into new avenues due to the declining PC sales. The companies announced that they would work on developing future products for consumers, industries and electric aircraft. During an Intel event last week, new-wave gadgets, drones and robots were put up for display.
“One of the best ways to bring that smart and connected world to everyone and everywhere has been drones,” said Krzanich.
In comparison with other drones, these drones have autonomous flying capabilities or flying over a fixed position, based on its function. Intel would further help in enhancing these capabilities. Intel is also helping the company to integrate cameras, allowing the drones to avoid objects without help from humans. During the event, Krzanich mentioned the vast potential of drones, and they include inspecting disaster sites and delivering packages. Krzanich said that they have got drones on their road map that are truly going to change the world and revolutionize the drone industry.
Chinese startup Yuneec, founded in 1999, started off with piloted airplanes and started to develop drones, last year. The company’s drone Typhoon Q500 4K, priced at $1,299, features an ultrahigh definition camera that can capture photos and videos during flight.
Yuneec claims that its drones can fly out of the box, as drones have to be assembled or configured by users, before flight. With this move, Intel would expand its market for semiconductors as the company is on the lookout for new devices that can use its chips. Intel has also invested in drone companies like Airware and PrecisionHawk.