Canadian drone maker gets investment from Donald Trump Jr.-backed company
Just weeks after winning a lucrative government contract to supply thousands of drones to the Canadian Armed Forces, a Saskatchewan-based company announced a major investment from a high-profile American backer.
Official response and confirmed impact
Draganfly, a leader in cutting-edge drone solutions, announced this week it received a $10-million investment from an unnamed American firm and Unusual Machines, a company backed by Donald Trump Jr.
The funding follows a five-year contract awarded in early September to supply thousands of drones to the Canadian Armed Forces.
“In response to rising demand for Draganfly’s proprietary products and technology in Canada and other allied countries, we have recently attracted investment to facilitate new hires and expand manufacturing capability,” the company said in a statement.
Draganfly added that no board seats or special rights were attached to the investments.
As trade tensions persist between Canada and the U.S., the federal government has set a goal to diversify defence procurement targeting 70 per cent of contracts to domestic companies.
“Look, they’re investing. What can I say?” Defence Minister David McGuinty said Tuesday.
Incident background
“The purpose is that we are building our Indigenous capacity here in Canada to stand up new tech, new drones, new systems.” Alexander Salt, a senior researcher with the Canadian Global Affairs Institute, said there’s a long history of cross-border investment in the defence space.
