The SoftBank and Baidu-backed agricultural drone developer has pulled in series C-plus-plus funding from Hillhouse Capital's GL Ventures fund.
XAG, a China-based agricultural drone provider backed by internet group Baidu and telecommunications and internet conglomerate SoftBank, has secured $46m in series C-plus-plus funding, DealStreetAsia reported on Tuesday.
The funding was supplied by GL Ventures, the venture capital fund owned by hedge fund manager Hillhouse Capital.
Founded in 2007 as Jifei Technology, XAG produces unmanned aerial vehicles for the agricultural industry, helping customers monitor, seed and irrigate crops. It also provides automated technology products such as weather sensor systems and…
