Key highlights
- XCraft walked into Shark Tank asking $500,000 for 20% equity in the company.
- The company secured a deal from all five Sharks on the show, for $1.5 million for 25% equity, with each Shark contributing $300,000 for 5% of the company.
- Ultimately, the deal collapsed after the show, and the company raised $4.4 million via crowdfunding.
If you are a fan of Shark Tank, you know how uncertain the stakes are when an investor steps into Shark Tank with a brilliant idea or product, hoping to get a deal.
One company that created a buzz on social media was xCraft Drones, a company that manufactures futuristic hybrid drone designs, capturing the attention of all five Sharks.
But what really happened after the show aired? Did the deal close, and is the company still active?
Let’s find out.
xCraft Drones Overview
| Field | Detail |
|---|---|
| Company name | XCraft |
| Founder(s) | JD Claridge and Charles Manning |
| Industry | Drones / Unmanned Aerial Vehicles (UAV) |
| Product name(s) | Their flagship was an X PlusOne / xCraft hybrid drone (VTOL + quadcopter) |
| Asking | $500,000 for 20% Equity |
| Valuation (ask) | $2.5 million valuation |
| Result | $1.5 million for 25% |
| Shark(s) with deal | All five Sharks |
Net Worth: How much is XCraft worth today?
xCraft has an estimated net worth of approximately $35 million as of 2025. This is based on their latest valuation reported from their Reg A+ crowdfunding raise on StartEngine.
When the company appeared on Shark Tank in 2015, they had an implied valuation of $2.5 million, but got a deal (which did not close) for $6 million valuation.
XCraft Shark Tank Pitch
When JD Claridge and Charles Manning stepped into Shark Tank, they had a highly convincing pitch for their innovative product- a hybrid drone.
- The X PlusOne Drone was capable of vertical take-off and landing like a quadcopter, then transitioning into fixed-wing flight, able to attain higher speeds and longer distances.
- The duo demonstrated that the drone could hover, tilt into forward flight, attaining speeds of 60 mph and ceiling altitudes of up to 10,000 feet.
- They aimed to design a drone that combines the agility of a drone and the efficiency of a plane.
- Apart from the X PlusOne drone concept, they also revealed their PhoneDrone concept that was under development- it turned a smartphone into a drone by utilizing its sensors and hardware.
- The founders revealed they had previously raised $173,000 in pre-orders via Kickstarter.
- All Sharks showed interest, with each Shark competing to get a deal.
- Kevin O’Leary made the first offer of $750,000 for 25%, and Daymond quickly countered it with $1 million for 25%. Lori offered $1 million for 20% equity.
- Seeing the bidding wars, the founders asked if the Sharks were willing to do a syndicate where all Sharks participate, and all Sharks (except Mark Cuban, who was reluctant) agreed.
But did the deal close, and what happened after the show? Keep reading to learn more.
Did xCraft Get a Deal on Shark Tank?
Yes, xCraft founders secured a verbal deal on the show. All five Sharks agreed to invest $1.5 million in exchange for 25% equity in the company, with each Shark contributing $300,000 for 5%.
Initially, the founders asked for $500,000 for 20%, but the bidding wars raised their valuation, and they walked out happy.
However, despite getting a deal during their televised pitch, the deal never closed. In a post-show negotiation and due diligence phase, the Sharks exited the deal, and no Shark investment was made.
So, while the company secured an investment on-air, the deal collapsed afterwards.
What happened to xCraft after Shark Tank?
Despite their on-air Shark Tank deal collapsing, JD Claridge and Charles Manning took advantage of the Shark Tank exposure to raise funds and reposition their business.
- The founders revealed that after the show aired, their website xcraft.io collapsed due to overwhelming traffic from curious viewers.
- They ran a Kickstarter campaign for the PhoneDrone, targeting to raise $100,000 for its development. They ended up raising $170,000.
- They started a StartEngine equity crowdfunding round and raised over $1 million in 2018.
- Overall, xCraft has raised over $4.4 million via crowdfunding and venture capital since the Shark Tank deal collapsed.
Strategy Shift from Consumer to Enterprise & Defense
One major shift that xCraft has executed after Shark Tank is moving away from direct-to-consumer drone sales to enterprise, mapping, and defense clients. This also means that their line of products evolved to match their new focus.
- The company stopped selling consumer-focused drones like the PhoneDrone and instead shifted focus to market tethered drones, high-precision mapping systems, and rugged UAVs for professional use.
- xCraft also pursued partnerships with mapping companies, public safety groups, and government agencies.
- Reports suggest that the company is in talks with the US Department of Defense to deploy some of its drones to the agency’s projects.
xCraft Drone Price
Since xCraft has shifted from direct-to-consumer drone sales, there is less emphasis on off-the-shelf retail prices. However, their e-commerce website still lists prices for some models as follows:
- LiteStar One: $7,599
- Matrix 3: $3,995
- Maverick SE: $2,999
- Nano Black Ops: $3,995
Conclusion
Although xCraft Drones got a dramatic on-air deal that collapsed shortly after the show aired, the company survived and evolved.
They leveraged their publicity on Shark Tank to raise funds via crowdfunding and shifted their business model from direct-to-consumer to enterprise and defense clients.
Over a decade later, the company now has an expanded line of products for its commercial clients and has a valuation of over $35 million.
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