Saskatoon-based drone manufacturer Draganfly Inc. has clarified that the recent $10 million US investment from an undisclosed U.S. investment fund and Unusual Machines Inc., a company associated with Donald Trump Jr., does not come with any unique privileges. Founded in 1997, Draganfly is headquartered in Saskatoon, where it operates. Both Unusual Machines and the unnamed fund are contributing $5 million US each to the investment.
Unusual Machines, a provider of drone components, appointed the son of the U.S. president to its advisory board in November 2024. According to a statement provided to CBC News by a Draganfly representative, these investments do not come with board seats or special rights. The funding aims to support the growing demand for Draganfly’s proprietary products and technology in Canada and allied nations, facilitating expansion in staff and manufacturing capabilities.
The investment involved the acquisition of 1,869,159 common shares of Draganfly at $5.35 US per share. Following this transaction, the company’s stock saw a one-day increase to $6.20 US on the NASDAQ by market close on Tuesday. Draganfly’s shares are also traded on the Canadian Securities Exchange, closing at $8.81 on Tuesday with a one-day increase of $0.92.
The company intends to utilize the investment to expedite product development and support day-to-day operations. Draganfly’s drone manufacturing activities span across Saskatoon and Vancouver, with plans for expansions in Edmonton and Ottawa, in addition to its presence in Tampa, Florida. These drones find applications globally in search and rescue missions, agriculture, and are utilized by the U.S. military. Draganfly recently secured a contract to supply the U.S. Army with drones in 2025.
In a recent development, Draganfly inked a five-year agreement with Ottawa to provide the Canadian Armed Forces with up to 5,000 drones. The deal includes an initial purchase commitment for 100 drones, with the potential to acquire an additional 4,900 units. The federal government sanctioned Draganfly as an accredited supplier under Ottawa’s Defence Drone Initiative.
In a significant milestone, Draganfly was purchased by California-based tech firm TRACE Live Networks in 2015. The company boasts a market capitalization of approximately $285 million, according to its official statement. Draganfly is recognized for developing the first civilian drone acknowledged for saving a life, with one of its drones now featured in the Smithsonian Air and Space Museum’s collection.
