xCraft Net Worth: Shark Tank Updates

You might have heard of xCraft. xCraft creates and designs Unmanned Aerial Systems (UAS) for the business and consumer drone markets. Founders JD Claridge and Charles Manning proposed the company’s well-known drone, X PlusOne, on Shark Tank. They negotiated a deal with all five sharks on an extremely rare occurrence.

Please read on patiently while we bring you full details of Xcraft’s net worth, founder, revenue, appearance on Shark Tank, and more.

xCraft net worth

According to sources, xCraft has an estimated net worth of $17 million as of 2024. The company designs and builds drones for various industries. The company had a net worth of $6 million before appearing on Shark Tank.

xCraft revenue

Xcraft revenues for the 2023–2024 financial year are unavailable in the public domain.

According to SEC filings, xCraft’s yearly sales for 2021 were $199,122, with a net loss of $392,496; they had a net loss of $1,064,118 in 2020. During the most recent round of funding on StartEngine in December 2021, the company was valued at $34 million.

xCraft shark tank

The founders of xCraft entered the Shark Tank Show, hoping to raise about $500,000. Without much waiting, offers begin to pour in from all sides. However, a fresh option is presented after some deliberation among the sharks. After some haggling and Mark’s initial hesitancy, all five sharks agreed to put up $300,000 for 5% equity, bringing the total offer to $1.5 million. They accepted the offer because it quadrupled their original request and included the expertise of all five sharks. They took the offer because it quadrupled their initial request and had the expertise of all five sharks.

xCraft Shark Tank Updates

After such an exciting episode, you’d think xCraft was doing well! Unfortunately, the transaction with all five sharks was never completed. However, according to our xCraft update research, airing the episode caused their website to fail. They launched a Kickstarter campaign shortly after the show aired, raising approximately $170,000. The company raised nearly $1 million in funding through a StartEngine campaign in 2018.

They have since raised additional funds. According to xCraft’s Start Engine page, they have raised at least $4,445,000.

Founders of xCraft

xCraft was founded in 2013 by JD Claridge and Charles Manning. Charles is a software developer and an entrepreneur, whereas JD is an aerospace engineer and an amateur pilot. They met through a familiar friend and agreed to collaborate on constructing new drones that could mix vertical and horizontal flight modes.

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