Shenzhen drone maker backed by Silicon Valley's Accel Partners

Shenzhen-based drone maker SZ DJI Technology will receive US$75 million from Silicon Valley venture capital firm Accel Partners to help fund further expansion, Reuters reported, citing a statement from the company. The companies would not comment on how the investment would value DJI, but unnamed sources said the firm was in talks in April to raise capital at a valuation of US$10 billion. DJI has already established a strong lead in the US commercial drone market thanks to its light-weight models, the most popular of which runs about US$1,200. (For more on drones and drone-based delivery in China, see our explainer.)