UAV Drone IndustryPhoenix-Wings, Subsidiary of SF Express, Receives Hundreds of Millions of Yuan in Round A Financing

November 26, 2021by helo-10

On Wednesday, Phoenix-Wings, a cargo drone company owned by SF Express, announced that it had completed an A round of financing for several hundred million yuan, led by strategic investors and followed by CR Capital Management, COFCO Capital, Tianqi Capital, Country Garden Venture Capital and Everest Venture Capital.

After the completion of this financing round, SF Express remains the controlling shareholder of Phoenix-Wings. The fresh funds will be used for cutting-edge technology research of cargo drones, exploring of new scenarios and global expansion.

As a comprehensive enterprise with independent R&D, testing, production and operation capabilities, Phoenix-Wings is committed to bringing unmanned aerial vehicle (UAV) technology into the logistics industry. It has completely independent intellectual property rights, and has applied for nearly 400 patents.

SEE ALSO: SF Express’ Intra-City Subsidiary Passes HKEx Listing Hearing

In recent years, Phoenix-Wings, relying on support from the Civil Aviation Administration of China, local governments and military and civil aviation regulatory units at all levels, has actively applied UAVs in urban communities, rural areas and for emergency support. Up to 2021, Phoenix-Wings’ UAVs have been safely operated nearly one million times, covering many complex settings such as plains, plateaus, mountainous areas, cities and islands.

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