Xcraft Shark Tank Update | Xcraft after the Shark Tank Pitch
What is Xcraft?
XCraft is a well-known drone development firm and is based in the United States. They designs and produces customized Unmanned Aerial Systems (UAS).
XCraft seeks to develop high-end, tiny, and powerful flying aircraft that may be used for commercial purposes.
JD Claridge and Charles Manning met in 2014 and connected over their shared love for business and aviation.
Drones were becoming more popular around this time, and the two recognized an opportunity to use them in everyday operations.
They collaborated on the first product, the X PlusOne.
Claridge is an aeronautical engineer and the creator of the X PlusOne XCraft.
He formerly worked at Quest Aircraft.
Manning is the CEO of Kochava, a mobile analytics technology business, and he joined X PlusOne because of the devices’ revolutionary design and technology.
Who founded Xcraft?
JD Claridge and Charles Manning are the founders of Xcraft.
What happen to Xcraft at the Shark Tank pitch?
The X PlusOne XCraft is a hybrid of a drone and a remote control airplane that can fly at speeds of up to 60 miles per hour and heights of 10,000 feet.
It hovers like a drone and then flies ahead like an aircraft thanks to on-board sensors that tilt it 90 degrees.
Super-fast fly-by recordings are possible because to the high speeds and GoPro Camera attachment.
The X PlusOne XCraft has an automatic stabilizer that allows users to quickly return it to hover mode by flipping a switch.
The flying length ranges from 12 to 22 minutes; the faster you go, the faster the battery drains – but they’re readily replaced.
The firm, which is located in Sandpoint, Idaho, wants to maintain all of its manufacturing in the United States.
They’re currently recruiting and selling on a “pre-order” basis. A DIY kit will set you back $1,549, while a fully loaded, ready to fly model with all the bells and whistles would set you back $2,199.
Camera mounts, additional batteries, flying control boards, and spare propellers are among the accessories available.
They’ll almost certainly need to invest in order to expand their production capacities. Will X PlusOne be joined by a shark?
JD and Charles fly the X PlusOne XCraft Drone in “drone mode” for $500K in exchange for a 20% stake in the company.
The drone has been redefined, according to some, ushering in a new era of flying.
The XCraft has a top speed of 60 mph and a range of 10,000 feet.
They demonstrate the wing and how it rotates to the Sharks, as well as the advantages of speed in catching fast-moving items on video.
If the user creates a flight plan, it can operate on its own.
They warn the Sharks (and the rest of the public) that recreational fliers must keep their drones in line of sight, at a distance of less than 400 feet, and away from airports.
They raised $173,500 in pre-orders on Kickstarter and are selling them for $1899 at retail.
The drones were only $400 to produce.
They show the Phone drone after the pitch. It enables a smart phone to fly by utilizing the sensors currently present in smart phones.
It’s still in the works, but it’ll set you back less than $100 to create. They intend to sell it for $300. Their IT is their “secret sauce,” and they want to license it out.
Daymond is curious as to why they’ve come.
They say they’ll need $250K for inventory for the XCraft and another $250K to build the Phone Drone.
Kevin makes an instant offer of $750K in exchange for 25% of the business.
Daymond senses a terrible Shark battle and offers $1 million for a 25% stake, which Kevin matches right away.
Lori makes an offer of $1 million for a 20% stake, and Kevin matches it!
JD and Charles question if all five sharks will go in at a $10 million valuation after witnessing the Sharks battle. “I smell greedy people!” Daymond exclaims.
After a brief pause, the narrator recounts how the company’s value increased from $2.5 million to $10 million.
Daymond narrates a story of a SHELLFISH young crab that refused to share his meal.
JD and Charles inquire about the Sharks who aren’t interested.
As they enter the corridor at Kevin’s suggestion, Mark remains silent.
According to Robert, each Shark could do $300,000 for a 5% commission.
When JD and Charles return, the Sharks present what Robert suggested, which brings the total number to $1.5 million for a 25% stake, with each Shark contributing 5%.
Except for Mark, all of the Sharks are in.
Mark inquires as to who else has offered them money, and Charles responds that they have had other bids from institutional investors interested in helping to build the firm.
Because venture investors prefer not to get their hands dirty, Charles and JD place a higher value on the Sharks’ contribution.
Mark agrees with that response and says he’s in!
And all the five Sharks agrees to share the deal of $1.5 million for 25%.
Xcraft after the Shark Tank Pitch.
The X PlusOne website failed shortly after this piece aired on the east coast. The next day, it was up and running again.
In the days after the presentation, the Phone Drone Kickstarter project raised almost $170,000, well above its $100,000 goal.
The five Shark deal fell through, and the business went on to raise $1,068,687.08 in 2018 on StartEngine.
New models have been launched.
The Panadrone has a tethered power line that allows for infinite flying duration in a small space.
A high-resolution camera is used by the Maverick Cinema. In a single 25-minute flight, the Maverick Mapper can autonomously map up to 40 acres.
The business is apparently in talks with the Department of Defense to deploy drones as of May 2021, with expected yearly revenues of $5 million.
Xcraft Net Worth
Xcraft net worth is $6 million.
With hundreds of competitors in the drone sector, including drone giants, DJI and Cheerwing, XCraft has struggled to establish out in the retail drone market.
Who founded Xcraft?
The Founder of Xcraft is JD and Charles.
What is Xcraft?
Xcraft provides affordable aerial drone solutions for consumers in diverse industries including real estate, construction, agriculture, sports, wildlife conservation and entertainment.
How much does it cost?
The lower-end DIY kit costs $1,549. The higher-end pre-order kit option option in limited quantities costs $2,199.
In the drone industry, Xcraft competes with companies such as Aerofex, Ehang, Parrot and Yuneec.
Where are the office/factories/manufacturing?
Our team is based out of Sandpoint, Idaho. We have an isolated factory that services our needs for this project.
What Happened to xCraft After Shark Tank?
XCraft has gone through many developments since the episode aired a few months ago. Kickstarter backers have begun receiving their development kits and PlusOne drones.
What is X PlusOne made of?
The X PlusOne is made from Expanded PolyOlefin (EPO). EPO is a very strong, lightweight expanded foam, similar to Styrofoam except more flexible and able to be glued with CA glue.
How is X PlusOne made?
The X PlusOne is assembled entirely by hand at our headquarters in downtown Coeur d’ Alene, Idaho. Each product is test flown and thoroughly inspected to ensure a quality product upon delivery.
How fast can X PlusOne go and what is the range?
The X PlusOne can fly up to 60 mph and approximately a mile away from the remote. The battery life is approximately 20 minutes.
When was Xcraft aired on Shark Tank?
The Xcraft episode was aired on December 1, 2015.
Who are the owners of Xcraft?
Xcraft is owned by two brothers, JD and Charles Clark.
The company started with both JD and Charles building drones in their parents’ garage five years ago.
They returned to family roots when they relocated to Idaho to begin their own company after college, eventually moving into a real office space.
Which episode was Xcraft aired on Shark Tank?
Xcraft was aired on season 7 episode 5.