U.S. drone technology company Unusual Machines and a U.S.-based investment fund are investing a combined $10 million in Canadian drone maker Draganfly, in a deal that highlights continued investor interest in autonomous and defense-related drone technology.
The investment will provide Draganfly with additional capital to support its operations and the development of what the company describes as strategic capabilities. Unusual Machines and the investment fund are each investing $5 million through a direct purchase of Draganfly shares.
Unusual Machines, which produces components including motors for drones, has Donald Trump Jr. as an adviser. Draganfly develops unmanned aircraft systems and software for applications ranging from defense and public safety to agriculture and industrial inspection.
The deal comes as drone manufacturers and technology companies attract increased attention from investors and governments seeking expanded autonomous capabilities. Draganfly said the transaction is expected to close around September 29, subject to customary closing conditions.
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