Mark Cuban Invests $300,000 In The Company

Billionaire investor Mark Cuban has increased his portfolio's position in drone companies by investing $300,000 in DARTdrones, a training company for both hobbyist and commercial drone pilots.

DARTdrones CEO Abby Speicher appeared on an episode of the ABC television show "Shark Tank" which aired on February 23. She asked for $300,000 in exchange for a 10 percent equity stake in the company. Cuban was quick to make a deal for the amount Speicher asked for with virtually no negotiation (full disclosure, I watched this episode Sunday night. ed.).

The company offers both online and in-person classes for operators at all levels in more than 30 cities, according to the company's introductory video. Based in Scranton, PA, the company has 11 full-time employees and some 40 drone instructors offering classes in basic flight, aerial photography, Part 107 test preparation and public safety applications. Speicher said she plans to use the money invested by Cuban to grow the business. The company has wanted to do more Part 107 training, but was waiting for the FAA to finalize those regulations last year.

(Image from DARTdrones YouTube video)

FMI: www.dartdrones.com