The drone company XCraft has successfully raised $1.5 million at a $6 million valuation after appearing on the ABC reality TV show Shark Tank. The two founders convinced all 5 “sharks” to invest in the company, which builds next generation camera drones that go beyond your standard quadcopter.
Here’s a clip of the deal being struck:
XCraft currently has two drone projects going on. The first is the X PlusOne, a hybrid drone that can take off and hover as a multi-rotor drone and then switch into fixed wing mode for flight speeds of over 100 km/h (60+ mph).
The second drone is the PhoneDrone, which is currently on Kickstarter and has raised over $150,000 with an initial goal of $100,000. It’s a drone that uses your smartphone as a brain, turning it into an autonomous aerial camera.
The X PlusOne is available in three different models through the XCraft store with prices ranging from $1,549 to $2,199. The PhoneDrone can be “preordered” through Kickstarter with contributions of $195 and up.