Key facts
- Unusual Machines and an unnamed US asset manager are investing $10 million in Draganfly.
- The investment is expected to close by September 30.
- Draganfly will use the proceeds to accelerate development of advanced strategic capabilities and for working capital.
- Unusual Machines is backed by Donald Trump Jr. and known for drone components.
- Draganfly supplies drones for defense, public safety, agriculture, and industrial inspection markets.
- Draganfly has supplied drones to Ukraine for mapping and humanitarian missions.
Canadian drone services firm Draganfly announced on Monday that it will receive a $10 million investment from Unusual Machines, a company backed by Donald Trump Jr., and an unnamed US asset management company. The funds are intended to accelerate the development of advanced strategic capabilities and cover general working capital needs.
Unusual Machines, which focuses on drone motors and control components, is part of a broader trend of increasing investments in the defense sector amid ongoing geopolitical tensions. The Trump family's investments in defense-related companies have previously drawn scrutiny over potential conflicts of interest.
Draganfly develops unmanned aircraft systems and software for various markets, including defense, public safety, agriculture, and industrial inspection. The company has previously supplied drones to Ukraine for mapping and humanitarian missions. In February, Draganfly raised $50 million through a share offering to support its growth plans.
The current investment is based on Draganfly's closing share price of $5.35 on September 25 and is anticipated to be finalized around September 30. Unusual Machines and the US asset manager will each contribute $5 million to the total investment.