SHARK FIGHT! Innovative Drone Company Has All 5 Sharks Hooked | Shark Tank US | Shark Tank Global

Summary

In this Shark Tank pitch, JD Clarage and Charles Manning of XCraft present their innovative unmanned flight technology, the X+1, which combines helicopter-like hovering with high-speed aircraft flight. They seek $500,000 for 20% equity to scale production and complete development on a smartphone-controlled 'Phone Drone.' The sharks engage in a heated bidding war, with offers reaching up to $1 million for 20% equity. After intense negotiations, the sharks form a syndicate, agreeing to invest $1.5 million for 25% equity, offering operational expertise and financial backing to help XCraft dominate the unmanned flight market.

Takeaways

• 😀 XCraft is a company focused on making unmanned flight accessible to everyone, combining the hovering precision of a helicopter with the fast flight of an aircraft.
• 😀 The X+1 drone can reach speeds of up to 60 mph and can climb up to 10,000 feet, offering seamless transitions from hover to forward flight.
• 😀 The X+1’s unique design allows for autonomous operation with the ability to create flight plans through software on a PC.
• 😀 The drone’s wing design enables forward flight after hovering, setting it apart from traditional drones that cannot transition between these two modes.
• 😀 Regulatory challenges exist for unmanned flight, particularly around line-of-sight and altitude limits, but XCraft is working within these constraints.
• 😀 The cost to produce the X+1 is $400, with a retail price of $1,800. XCraft has raised $173,000 in pre-sales, including $143,000 from Kickstarter.
• 😀 The company is exploring new developments like the 'Phone Drone,' a concept that allows smartphones to function as drones by utilizing their built-in sensors and cameras.
• 😀 The ‘Phone Drone’ is currently in development, with a target retail price of around $300 and a production cost of under $100.
• 😀 The company emphasizes its unique intellectual property (IP), with the design of the X+1 being patent-pending and difficult to replicate.
• 😀 XCraft is seeking $500,000 in exchange for 20% equity, with plans to use the investment to scale production and develop the Phone Drone.
• 😀 After negotiations with investors, a syndicate deal offering $1.5 million for 25% equity was reached, with all five sharks agreeing to participate in the deal.

Q & A

What is the main product offered by XCraft?

XCraft offers a drone called the X+1, which combines the hovering precision of a helicopter with the fast flight of an aircraft. It can soar at speeds up to 60 mph and climb as high as 10,000 ft, with the ability to seamlessly transition between hover and high-speed flight.

How does the X+1 drone differ from traditional drones?

The X+1 is unique because it can transition from hovering to forward flight using a wing. Traditional drones typically only hover or have limited forward flight capabilities, while the X+1 can fly at high speeds and reach greater altitudes.

What are the key features of the X+1 drone?

The X+1 drone features the ability to transition between hover and high-speed flight, a maximum speed of 60 mph, the ability to climb up to 10,000 ft, and autonomous flight capabilities with pre-planned routes.

What is the range and maneuverability of the X+1?

The X+1 is designed to be maneuverable, allowing operators to stay within visual range. It can fly autonomously based on pre-set flight plans, allowing for greater flexibility and control.

What is the cost to produce and retail the X+1 drone?

The X+1 costs $400 to manufacture and is retailed for $1,800.

How successful has the company been in terms of pre-sales?

The company has achieved $173,000 in pre-sales, with $143,000 coming from Kickstarter and the remaining $30,000 from sales on their website.

What is the 'Phone Drone' concept mentioned by JD Clarage?

The 'Phone Drone' is a concept where a smartphone is transformed into a drone. The smartphone's built-in sensors, such as gyroscopes, accelerometers, and cameras, are used to control the drone's flight, reducing the need for expensive drone components.

What is the estimated cost for the 'Phone Drone' and its potential retail price?

The 'Phone Drone' is still in development, but it is estimated to cost less than $100 to produce and could retail for around $300.

What is the key intellectual property (IP) behind XCraft's products?

The key IP behind XCraft’s products lies in the unique designs and technologies, especially the ability to transition from hovering to forward flight, which is currently patent-pending.

Why is XCraft seeking investment, and how will they use the funds?

XCraft is seeking $500,000 for 20% equity to scale production of the X+1 drone and to complete development of the Phone Drone. They plan to allocate $250,000 for scaling production and $250,000 for the Phone Drone's development.