(Yicai Global) June 6 -- Qingyuan Smart Technology, a Chinese startup that makes drones used in security and surveillance, has scored tens of millions of yuan in its Series A funding round.

Beijing-based Navigation Control Technology, a Star Market-listed maker of inertial navigation systems, led the fundraiser that was participated by an investment cooperation fund of Vanguard, 36Kr reported today. The Beijing-headquartered startup did not specify how it will use the funds.

Founded in 2021, Qingyuan makes smart navigation systems, solid-state hydrogen storage modules, and drones used to inspect infrastructure such as railways and solar power stations against denial-of-service attacks and interference. Currently, the firm is developing a hydrogen-powered drone for special use and it will have a long range and night vision, according to founder Zhou Hui.

The startup mostly serves large enterprises such as China's State Grid, China Southern Power Grid, and China Aerospace Science and Technology. It is expected to earn about CNY80 million (USD11.3 million) in revenue this year, per the report.

Editor: Emmi Laine