Zero Zero Robotics, the Chinese company behind HOVERAir self-flying cameras, has reportedly reached a $1 billion valuation in its latest funding round. Leiphone reported the valuation on October 28, alongside estimates from people close to the company that fourth-quarter revenue could reach RMB 600 million to RMB 700 million.
The company disclosed Series D and D-plus financing this year, with investors including Boyu Capital, Xiang He Capital, Delian Capital and an Ant Group affiliate. Founded in 2014 by Stanford PhD graduates, Zero Zero develops portable flying cameras that can take off from a user’s palm and automatically follow subjects. Its HOVERAir lineup targets consumers seeking aerial footage without manually piloting a conventional drone. [IT Home, in Chinese]