With recent funding of $182m, drone maker XAG is set to make its mark as agritech leader

China

5 min read

Nov 27, 2020

By Wang Xiao'e

XAG has been reaping the benefits of its 2012 pivot to agriculture as demand for high-tech automation in China’s farms continues to grow strongly amid government push

In 2007 Peng Bin, a former Microsoft engineer and a self-professed geek, got together with a group of young aeromodelling enthusiasts and started XAIRCRAFT to build drones. Over a decade later, their hobby has grown into a successful business. XAG, as it is now known, has deployed over 51,000 agricultural drones across 42 countries since it pivoted to focus on the agriculture sector in 2013.
In November, XAG bagged $182m – reportedly the largest single investment in China’s agritech space – in a funding round co-led by Baidu Ventures and SoftBank Vision Fund II, with the par...

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Edited by S. Mani

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