The Stanford-StartX Fund backs flying camera maker Lily in its $14m series A round.
Lily, a US-based developer of a flying camera, has revealed $15m in funding from a consortium including the Stanford-StartX Fund, according to the Wall Street Journal.
The funding was raised over two rounds. Lily secured $14m in series A round in December 2015 from StartX Fund and venture capital firms Dorm Room Fund, which is run by students from various institutions, Innospring Seed Fund, Seven Seas Venture Partners and Slow Ventures.
The series A round also featured Winklevoss Capital, Upside Partnership, SV Angel, SherpaVentures and Liquid2 Ventures.
Lily disclosed it previously obtained $1m in seed funding in April 2014 from Dorm Room Fund, Innospring Seed Fund, Slow Ventures, SV Angel, Upside Partnership and Winklevoss Capital, along with assorted angel investors.
StartX is a non-profit business incubator that began life as a spinout of Stanford Student Enterprises, the financial arm of the Associated Students of Stanford University. It invests in and mentors companies where at least one member has a link to Stanford.
Lily, which spun out of University of California, Berkeley’s robotics lab, has created a flying camera, similar to personal drones, that can follow a user automatically while filming. Customers have been able to pre-order the Lily flying camera for between $499 and $799.
The company originally hoped to ship units in February 2016 but has delayed fulfilment until summer 2016.
