What Happened To xCraft From Shark Tank Season 7?

It can be hard to close an investment deal with even one of the billionaire panelists on ABC's hit reality series "Shark Tank,". It's even rarer that a deal goes through with backing from all five. Such rarities have occurred over the years, with Season 5's Breathometer becoming the first to accomplish that feat. Such deals often come together when the product being pitched seems like a sure-fire success, with the panelists opting to forego a value-inflating bidding war in favor of closing a deal that splits the costs and financial returns more equitably.

That was just the case during the Season 7 episode of "Shark Tank" in which JD Claridge and Charles Manning dropped in to pitch their innovative drone company xCraft. That episode aired in 2015, doing so at what might be considered the height of the drone boom, with everyday consumers snatching up the flying machines in all shapes and sizes at a robust clip. Few of those crafts were quite as forward-thinking as the pair of devices Team xCraft, and the co-founders of the company seemed keenly aware of that fact. 

So much so, that the duo came in seeking a $500,000 investment in exchange for 20% of a company that seemed primed to dramatically alter the already lucrative drone game. The sharks clearly agreed, as xCraft walked out of the "Shark Tank" studio with triple that amount. Here's a look at who the xCraft deal came together, and what the company's doing today. 

There's a lot to be said for positioning yourself or your business to be in the right place at the right time, and xCraft's "Shark Tank" deal is fairly clear proof of that concept. They were, after all, not exactly at the forefront of the drone game, as unmanned aerial vehicles were very much part of the pop culture conversation by 2015, even as users continue to search for ways to stay out of trouble using them. But the market was, arguably, still coming into focus around that time, and rapidly expanding into many other sectors. 

The market potential for xCraft was not lost on even a single shark, as deals began to come fast and furious from the show's money men and women. The first offer came from Kevin O'Leary, and was actually over xCraft's ask, with the investor's $750,000 for 25%, raising the company's valuation from $2.5 million to $3 million. That offer triggered the early stages of a bidding war a la Season 14's Lava Box, with Daymond John and Lori Greiner each offering $1 million, and O'Leary quickly matching. With the valuation doubled, the xCraft founders sensed an opening to push for more, signaling they wanted to push the valuation to $10 million.

However, they were keen to spread the responsibilities of that offer between all 5 sharks, who ultimately decide a $6 million valuation is more the sweet spot. After a fair amount of hemming and hawing, the sharks eventually agree to terms, each securing a 5% stake in xCraft for a $300,000 investment, gifting the company a cool $1.5 million in funding.

While the intense "Shark Tank" negotiations for a stake in xCraft certainly made for great television, it would appear that the $1.5 million deal offered by the series' 5 person panel never actually closed. This is not an uncommon occurrence, of course, as it's believed that many of the deals struck while the cameras are rolling fall apart when the parties continue to hammer out financial details after the fact. While it's unclear where things fell apart for the "Shark Tank" panelists and xCraft founders, one thing we do know is that the company has forged ahead successfully without their $1.5 million in funding.

That should not entirely come as a surprise because the xCraft crew walked into the "Shark Tank" studio showcasing two products with some very serious cool-factor. The market potential that comes with products as unique and innovative as the two presented by the xCraft founders was clearly not lost on the sharks, and the general public was apparently just as impressed. Per reports, so many "Shark Tank" viewers visited the company's web page the day after the episode aired that the site actually crashed. 

Not long after, xCraft launched a Kickstarter campaign looking to raise $100,000 through the crowd-funding site. They far surpassed that goal, netting $170,000 by campaign's end. They undertook another round of crowdsourcing in 2018 through StartEngine. This time, they raised more than $1 million. They've have had continued success in the crowd-funding arena over the years, and a second StartEngine campaign in 2022 proved even more fruitful, with xCraft netting well over $2.5 million.

The xCraft team has used that funding to build out its product line with new drones as innovative as the ones seen on "Shark Tank" ten years ago. These days, the company is featuring seven different models on its website, each of which boasts features unique to the xCraft brand. It would seem, however, that you can't just drop by the company's website and purchase an xCraft drone for your own personal use, as xCraft is no longer offering drones to the general public, shifting its focus instead towards success in the commercial arena.

That possibility was, of course, teased by Robert Harjavec during the "Shark Tank" pitch, with the investor noting the brand's potential for success in the industrial sector and among defense contractors. The move has proven fortuitous, with xCraft boasting a $35 million valuation as of 2022. That valuation was no doubt bolstered by the 2022 deal xCraft struck with T-Mobile, partnering with the communications outfit to further revolutionize the drone market using 5G technology.

Given the company's financial health, it'll come as no surprise that xCraft's co-founders are still involved in its operations. Per his Linkedin page, JD Claridge is currently functioning as the company's President CEO. Charles Manning's position is a touch less certain, as he's currently listed as a co-founder and investor on xCraft on Linkedin. He is, however, also listed as the President and CEO Kochava, a data solutions outfit for advertisers and publishers. As for the future of xCraft, the company is apparently looking to use its drone tech to develop flying cars and passenger vehicles.