Trump Jr.-backed Unusual Machines, U.S. asset manager invest US$10M in Canada’s Draganfly
Donald Trump Jr.-backed Unusual Machines UMAC.A and an unnamed US asset management company have invested US$10 million in Canadian drone services firm Draganfly, as defense sector investments gather pace amid persistent geopolitical tensions.
Official response and confirmed impact
In a statement on Monday, Draganfly said it would use the proceeds to accelerate the development of advanced strategic capabilities and to fund general working capital needs.
Draganfly’s New York-listed shares were up 3.4 per cent in pre-market trading.
Unusual Machines, which counts Trump Jr. as a member of its advisory board, is known for its drone motors and other control components.
The Trump family’s investments in several companies have drawn scrutiny amid concerns about potential conflicts of interest, particularly its stakes in defense firms that regularly compete for government contracts.
Donald Trump Jr. and his brother Eric Trump have also backed Israeli drone-maker XTEND and Powerus.
Trump Jr. did not immediately respond to a Reuters request for comment.
Draganfly develops and manufactures unmanned aircraft systems and related software for defense, public safety, agriculture and industrial inspection markets.
