EHang Drones Secures $42 Million in Series B Funding

“With the strong support of four senior executives from international listed companies joining us, we are even more confident in becoming a leader in the drone industry.”

He stated that with this funding, EHang will not only continue to perfect its user-friendly intelligent control but will also apply its innovative intelligent drone technologies and concepts to fields such as agriculture and forestry, geographic surveying, emergency rescue, surveillance, and logistics. This will bring new transformation opportunities to traditional industries. Making drones not only accessible but also creating more practical value, thereby completely changing people’s lives. In the second half of this year, EHang will launch a flagship product that aims to deliver a groundbreaking user experience and application, leading the intelligent innovation of the drone industry.

GP Investments has extensive experience in sectors including financial services, healthcare, mobile internet, smart hardware, and consumer goods. It has completed investments in over 30 projects, including Guotai Junan, China UnionPay, Ant Financial, Industrial Bank, Monternet Technology, Weiming Medicine, VGrass, Huimin Network, and GSX Techedu. The GP Mobile Internet Equity Fund, which focuses on mobile internet and smart hardware, led the investment in EHang. Hou Haoxiang of GP Investments said: “The EHang team has an inspiring grand vision, unparalleled innovation and wisdom, and an indomitable drive. We believe their intelligent-control drones will find wide applications across many sectors, gain global popularity, and we look forward to EHang achieving revolutionary breakthroughs in the field of flight technology.”

As the lead investor in EHang’s Series A funding, GGV previously made the largest Series A investment in EHang’s 15-year history. Now, continuing its investment in the Series B round, GGV remains fully confident. Jenny Lee, Managing Partner at GGV Capital, said: “We are particularly optimistic about the future of the global drone industry and are very pleased to see EHang gaining increasing support from the industry and investment partners. This will enable EHang to continue delivering exciting, innovative, and industry-leading drone products to consumers worldwide.”

Xu Xiaoping, founder of ZhenFund, said: “Considering EHang’s solid and rapid growth, its current valuation is nearly forty times higher than when we co-invested with Yang Ning in the second round of angel funding a year ago. But we are still happy to follow up on this investment because we have great confidence in the technology and products created by EHang’s team.”

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