'Shark Tank' Officially Offers to Invest $100 Million. Here Are Its 8 Biggest On-Air Deals
xCraft is one of the biggest deals in Shark Tank history.
With a polished business model, a new line of products, and an expanding market, we believe xCraft is set to create a lasting legacy in UAV technology and beyond. Last year’s record-breaking campaign on StartEngine allowed the company to grow up into a mainstay custom and commercial US-based drone developer. xCraft’s reach goes beyond the consumer market to enterprise, defense, and humanitarian applications.
xCraft was born when co-founders JD Claridge and Charles Manning launched an initial crowdfunding campaign on Kickstarter to fund xCraft's flagship product, the X PlusOne. We managed to triple our goal in that campaign and went on to build one of the most powerful and unique consumer drones on the market.
From there, xCraft made a splash on ABC's Shark Tank when all five sharks came on board to form a syndicate and make a deal worth $1.5 million. Last year, xCraft launched a campaign on StartEngine that reached the $1.07 million maximum allowed under Reg-CF. The campaign filled up quickly with 1,184 investors coming on board. Now, we are back for more.
We believe these milestones indicate the importance of the technology that xCraft develops. People not only believe in the tech, but they also believe in the vision for the future.
Investment
$3.56/share│When you invest, you are betting the Company’s future value will exceed $18.2 million.
Along with innovating new technology comes finding ways to apply that technology to different industries. We at xCraft have a vision for how we want drones to create a positive impact in many fields. While the possibilities are virtually unlimited, below are a few examples of where we see our technology headed.
Our current project...First iZ: First Eyes for First Responders
What if there was a way to let first responders see what is happening at a fire, an accident, a shooting, or other incident…before they get there? First iZ is a drone system that will be programmed to autonomously fly to incidents at 60+mph, send live video while in transit, sniff for hazardous gases, hover while still sending live video, and allow commanders to know what they are facing before they dispatch vehicles and people. The First iZ project is owned by an undisclosed partner, 25% of which is owned by xCraft.
Precision at your fingertips
Our goal in creating the x2 Pro was to create something that is highly effective in data collection, easy to use, and can be an everyday workhorse. It takes off and lands vertically, yet travels forward in flight, giving it the endurance of a fixed-wing aircraft. The drone has an extended range and can fly 60+ mph. This combination of capabilities allows for data collection over large areas in record time. It also flies autonomously, so just program the flight pattern and press go!
With our next generation of UAV platforms, xCraft engineers are breaking the 100 mph barrier.
xCraft's patented technology allows unlimited connectivity.
Industry-leading mapping coverage.
The Vertical Takeoff & Landing capabilities of xCraft drones gives them an edge over the competition.
With increased endurance and speed, xCraft drones offer high resolution images for clients looking to map and collect data of large areas.
Drones can be used to help farmers maximize their yields and develop new methods of sustainability in fields all around the world.
Drone technology can be used by individuals, businesses, institutions, and government agencies to provide tighter and more efficient security.
Drones can put eyes and ears in the sky, helping first responders to offer superior assistance to those who are in the most dire need during the first critical minutes of an emergency.
Kevin O'Leary AKA "Mr. Wonderful"
Speaking to JD and Charles on "Shark Tank"
Between now and 2020, we forecast a $100 billion market opportunity for drones—helped by growing demand from the commercial and civil government sectors.
Source: Goldman Sachs Research
Military
Drones got their start as safer, cheaper, and often more capable alternatives to manned military aircraft. Defense will remain the largest market for the foreseeable future as global competition heats up and technology continues to improve.
Source: Goldman Sachs Research
Consumer
The consumer drone market was the first to develop outside the military. Demand has taken off in the last two years and hobbyist drones have become a familiar sight. There is still plenty of room for growth.
Source: Goldman Sachs Research
Commercial/Civil
The fastest growth opportunity comes from businesses and civil governments. They're just beginning to explore the possibilities, but we expect they'll spend $13 billion on drones between now and 2020, putting thousands of them in the sky.
Source: Goldman Sachs Research
Source: Goldman Sachs Research
Source: Goldman Sachs Research
xCraft is in an even better and stronger position than we were when we first went on Shark Tank and last year when we launched our first campaign on StartEngine. We intend to use the funds raised from this new campaign to meet the ever-expanding demand of UAV production. We will add resources to R&D, expand our product line, and offer full support for First iZ and upcoming development projects. We have a very purposeful mission and are working hard to leave a legacy. We believe the drone industry is still young but nevertheless expanding quickly, and the commercial possibilities are unlimited. We aim to push the boundaries.
Our core values drive innovation and expect excellence. We seek to bring positive change to the world, and we want you to join us.
xCraft is one of the biggest deals in Shark Tank history.
In case you missed it, a young aerospace engineer and a veteran software developer taught a master class in entrepreneurship on prime time television last week.
XCraft is proving that if you build a better drone, the world will beat a path to your door. Based in Sandpoint, Idaho, XCraft’s fall appearance on the ABC TV show “Shark Tank” and two successful Kickstarter campaigns mean the startup company has plenty on its plate.
The US Marine Corps (USMC) demonstrated a capability it calls Hive Final Mile (HFM) where it wants to autonomously deploy a group of small quadcopter-style unmanned aerial vehicles (UAVs) and deliver small supplies such as food or ammunition to marines on the field.
Maximum 300561 shares* of Class B Non-Voting Common Stock $1,069,997.16
Minimum 2,808 shares of Class B Non-Voting Common Stock $9,996.48
Company | xCraft Enterprises, Inc. |
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Corporate Address | 418 E Lakeside Ave, Suite 08 Coeur d'Alene, ID 83814 |
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Description of Business | xCraft develops and manufactures small, powerful flying machines for custom, commercial, and consumer applications. |
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Type of Security Offered | Class B Non-Voting Common Stock |
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Purchase Price of Security Offered | $3.56 |
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Minimum Investment Amount (per investor) | $178.00 |
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Investors,
We just wanted to let you know we recently sent our latest investor update (and Form C-AR) to the email we have on file. If you did not receive it, please let us know at support@xcraft.io and we'll get it to you.
Thanks!
-Team xCraft
Well, we've made it!! With your help, xCraft has hit our maximum funding goal of $1,070,000! Now it's on to the real work of changing the world using these flying robots.
We could not have done this without you. We want to thank our incredible investors so much for your support. You guys are awesome!
Please note, we will be officially ending the campaign in just 9 days. This is your last chance to get on the waitlist so please do so if you've been thinking about it.
Upward!
-Team xCraft
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, xCraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in xCraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Just a quick update to let you know that xCraft has crossed a significant milestone, $1,000,000!!!
There's still time to invest although not much more. When we hit our maximum raise of $1,070,000, no further investments will be allowed.
Looking forward to the goal,
-Team xCraft
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, xCraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in xCraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Friends,
We had an incredible weekend! In the last 72 hours, we've seen over $130,000 come in through new investments leading to a new total of almost $950,000! At this rate, we only need a few more days to reach our maximum goal of $1,070,000. Now is the time to get on board if you haven't already!
We would also like to take this time to introduce our newest team member, Laura G.
Laura joins xCraft as our new Community Manager. If you call or email xCraft, she'll likely be the person on the other end.
Laura is originally from Ireland although she moved to the US eight years ago. She is passionate about all things aviation and loves to fly at every possible opportunity. Laura also enjoys camping, reading and hiking.
Welcome Laura, we are excited to work with you!
-Team xCraft
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, xCraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in xCraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Happy 2020 Friends! I wanted to personally write the first post of the new year to welcome our new investors and throw out another "thank you" to xCraft's faithful, long-standing supporters.
This is going to be a good year for xCraft and our amazing investors. I've just released xCraft's goals for 2020 which include (among others) selling thousands of drones and shipping two new game-changing products. It's not going to be easy but I know with the hard work of our outstanding team and the support of our investors, we can do it!
I'm humbled by the response of our community in breaking records on our StartEngine campaign. Total investments have now reached over $770,000! We are well past 3/4 of the way to the maximum goal. So cool! Let's keep it up!
-JD Claridge
President and CEO
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, xCraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in xCraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, xCraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in xCraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
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