A drone company with Donald Trump Jr. on its advisory board is investing US$10 million in Saskatoon-based Draganfly, a Canadian maker of unmanned aircraft, Reuters reported Monday.
Unusual Machines, a U.S. firm that makes drone motors and control components, is contributing US$5 million alongside an unnamed U.S. asset management company putting in an equal amount, according to the Reuters report. The investment is priced off Draganfly’s closing share price of US$5.35 on Sept. 25, and the deal is expected to close around Sept. 30, Reuters said.
Draganfly, which trades on Nasdaq under the ticker DPRO, makes unmanned aircraft systems and related software for the defence, public safety, agriculture and industrial inspection sectors. The company has also supplied drones to Ukraine for mapping and humanitarian work, Reuters reported. In a statement cited by the news agency, Draganfly said it would use the new capital “to accelerate the development of advanced strategic capabilities and to fund general working capital needs.” The Saskatchewan company previously raised $50 million in February, according to Reuters.
Trump Jr. sits on Unusual Machines’ advisory board. He and his brother Eric have also backed the Israeli drone maker XTEND and a company called Powerus, Reuters reported. The news agency noted that Trump family investments in several companies, particularly defence firms competing for U.S. government contracts, have drawn scrutiny over potential conflicts of interest. Trump Jr. did not immediately respond to a Reuters request for comment.
Draganfly’s shares are down about 23 per cent so far this year but rose roughly 3.4 per cent in pre-market trading Monday after the investment was announced, Reuters reported. Unusual Machines’ stock, by comparison, is up about 89 per cent year to date. Reuters framed the deal as part of a broader wave of investment flowing into the drone and defence sector amid ongoing geopolitical tensions, including the war in Ukraine and rising military spending across NATO countries.
The deal lands at a moment when Canadian companies working in dual-use defence and security technology are increasingly drawing American capital, even as Ottawa and Washington continue to spar over tariffs in other sectors. Draganfly’s business spans defence and public safety contracts in Canada alongside its humanitarian drone work in Ukraine, giving the company exposure to both sides of the current surge in military and dual-use technology spending.
Neither Draganfly nor Unusual Machines has publicly detailed further terms of the investment, such as whether it involves new shares or another structure, beyond the price reference tied to last Friday’s closing trade. Reuters said Trump Jr. and Unusual Machines had not confirmed the deal on the record beyond Draganfly’s general comment on the use of proceeds.
Founded in Saskatoon, Draganfly has built its business supplying drones and related technology to defence, public safety and agricultural clients in Canada and abroad, and has positioned itself as a supplier for both civilian and military applications as demand for unmanned aircraft grows on both sides of the Canada-U.S. border.
