Berkeley-based drone manufacturer 3DR may be back in the game: the company announced $53 million in Series D funding on Thursday. This announcement comes less than a year from 3DR’s last influx of $26.7 million last June.
The new round included both new equity and conversion of debt equity: how much of each has not yet been disclosed. But clearly, investors are still willing to bet on 3DR’s ability to turn themselves into a commercial drone platform.
3DR’s consumer drone, the Solo, is still used by many commercial drone operators. But 3DR’s production challenges led the company to stop making Solos in 2015, shifting to a commercial platform play. 3DR’s co-founder Chris Anderson said that the company was unable to compete with manufacturing giant DJI, even after moving its own production facility overseas. An overestimate of demand had left the company with warehouses full of Solos as DJI introduced newer versions of its popular Phantom lines.