(Yicai Global) Nov. 28 -- Chinese drone research and developer Shenzhen MicroMultiCopter Aero Technology Co. has secured USD30.3 million in its pre-initial public offering funding round led by Plum Ventures, but did not disclose its exact plans for listing, an online drone media outlet reported.

The company was founded in 2014 after setting up a research team in 2008. It raised CNY27 million (USD4.09 million) in A-round funding and CNY40 million in B-round funding in 2015 to give it a valuation of CNY500 million (USD75.75 million). Last year, the company raised CNY60 million but did not disclose its new value or the purpose of the fundraising.

MicroMultiCopter's unmanned aerial vehicle (UAV) products are used in such fields as public security, fire control, agriculture and aerial photography. The firm has set up four research and development centers and cooperated with well-known firms, including China Aerospace Science and Technology Corp. MicroMultiCopter is currently training drone pilots.

A report published by industry media outlet 81UAV said that by 2025, China's drone industry will be worth CNY750 billion (USD113.66 billion), with aerial photography, agriculture and forestry and security all being key areas for development.