All posts tagged: Performance Drone Works

Trump administration in talks to fund drone companies, says report

Trump administration in talks to fund drone companies, says report

The Trump administration is in talks to provide funding to some drone companies, including Unusual Machines and Sequoia Capital-backed Neros, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. US President Donald Trump speaks during a cabinet meeting in the Cabinet Room at the White House, in Washington DC. (REUTERS) Shares of Unusual Machines were up 37% in premarket trading on Thursday. Drone dominance was described as a “presidential priority” in President Trump’s $1.5 trillion defense budget request for fiscal year 2027. Months-long discussions between private sector firms and the Pentagon have included the Office of Strategic Capital, a Biden-era lending unit focused on companies critical to national security supply chains, the Journal reported. Also Read | Convergence, not conflict, must cornerstone of Indo-US ties Unusual Machines is a drone components maker that counts Donald Trump Jr. as an adviser, while Neros is a startup specialising in autonomous drones. Performance Drone Works, which won a contract to supply the U.S. Army with reconnaissance drones, is also under consideration for possible funding, …