Simtoo drone manufacturer raises $11m in series B
Chinese drone maker Simtoo has secured CNY72m ($11m) in a series B funding round to expand, looking to make its Dragonfly Dones available in the US next year via BestBuy, Toys "R" Us and other retailers. The Shenzhen-based firm debuted its Dragonfly Drones in August 2015 and has since sold 20,000 of the lightweight drone, targeted at consumers who want to take the unit on trips. The funding was led by Chinese social network Renren, Beijing Infinitas Interactive Media and Hanking Family Office. 

Another Chinese drone maker just got venture funding.

Chinese social network Renren Inc has co-led a RMB72 million (US$11 million) series B funding round in Simtoo, a Shenzhen-based portable drone maker.