Monday, November 29, 2021
News
NEWS HOME
»
PRN INDIA
Draganfly Signs $9 Million Exclusive Manufacturing Agreement with Digital Dream Labs
  SocialTwist Tell-a-Friend  
   

LOS ANGELES, Oct. 14, 2021 /PRNewswire/ -- Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce that it has signed a minimum $9 million manufacturing agreement with Digital Dream Labs, Inc.  ("DDL") to design and develop an AI consumer companion robot drone (the "Drone").

DDL is an edtechtainment company that specializes in the development of hands-on video games and personal robots. Their popular desktop robots, Cozmo and Vector, are two of the best-selling consumer robots of all-time.

As per the terms of the announced agreement, Draganfly will be the exclusive manufacturer and assembler of the Drone. DDL will order at least 50,000 units annually with delivery starting in 2022. The Drone will be integrated into DDL's existing product family, including support, sales and distribution channels used for their other consumer robots. Draganfly has also been granted a right of first refusal to become the exclusive manufacturer and assembler of subsequent drone or UAV-based robots to be added to Digital Dream Labs' product portfolio.

According to the Consumer Drones Global Market Report 2021, the global consumer drone market is expected to top $2.3 billion in 2021 at a compound annual growth rate (CAGR) of 12%. In 2025, the market is forecasted to reach nearly $3.3 billion at a CAGR of 9%.

"We are very excited to be working with Draganfly on the newest addition to the Cozmo family." said Dr. Jacob Hanchar, co-founder and CEO of Digital Dream Labs. "This AI robot drone fits perfectly into our portfolio and complements our mission as we continue to change the narrative around technology and illustrate how it can be used to improve lives."

"The Draganfly team is incredibly excited to be working with Digital Dream Labs and helping them in taking hands-on educational technology to new heights with this new robot. Our team of robotics, AI and aviation experts are looking forward to helping DDL cement their market leading position by developing the ultimate drone companion," said Cameron Chell, CEO of Draganfly.

The parties have entered into a binding letter agreement reflecting the above terms and will use commercially reasonable efforts to enter into a definitive agreement. The binding letter agreement will govern the relationship between DDL and Draganfly and there can be no assurance that a definitive agreement will be completed or entered into amongst the parties.

About Draganfly

Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 20  years, Draganfly is an award-winning, industry-leader serving the public safety, agriculture, industrial inspections, security, mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

For more information on Draganfly, please visit us at  www.draganfly.com.
For additional investor information visit  https://www.thecse.com/en/listings/technology/draganfly-inc,  https://www.nasdaq.com/market-activity/stocks/dpro  or https://www.boerse-frankfurt.de/aktie/draganfly-inc.  

Media Contact
Arian Hopkins
email:  media@draganfly.com

Company Contact
Email:  info@draganfly.com

About Digital Dream Labs

Digital Dream Labs is an edtechtainment company that develops engaging learning solutions for people of all ages. Through their innovative suite of interactive and hands-on video games and consumer robots, Digital Dream Labs is transforming the way science, technology, engineering, arts and mathematics ( STEM / STEAM) topics are taught in homes and classrooms around the world.

For more information, visit  digitaldreamlabs.com.

Media Contact
Saul Markowitz  
Saul@digitaldreamlabs.com  
412-977-8517 cell  

Forward-Looking Statements

This release contains certain "forward looking statements" and certain "forward-looking information" as ‎‎defined under applicable Canadian securities laws. Forward-looking statements and information can ‎‎generally be identified by the use of forward-looking terminology such as "may", "will", "expect", ‎‎"intend", ‎‎"estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking ‎statements ‎and information are based on forecasts of future results, estimates of amounts not yet ‎determinable and ‎assumptions that, while believed by management to be reasonable, are inherently ‎subject to significant ‎business, economic and competitive uncertainties and contingencies. Forward-‎looking statements ‎‎include, but are not ‎‎‎‎‎limited to, ‎statements with the negotiation and settlement of a definitive agreement. Forward-looking statements and ‎‎information are subject to various known and unknown risks and uncertainties, many of which are ‎beyond ‎the ability of the Company to control or predict, that may cause the Company's actual results, ‎‎performance or achievements to be materially different from those expressed or implied thereby, and ‎are ‎developed based on assumptions about such risks, uncertainties and other factors set out here in, ‎‎including but not limited to: the potential impact of epidemics, pandemics or other public health crises, ‎‎including the current outbreak of the novel coronavirus known as COVID-19 on the Company's ‎business, ‎operations and financial condition, the successful integration of technology, the inherent ‎risks involved in ‎the general securities markets; uncertainties relating to the availability and costs of ‎financing needed in ‎the future; the inherent uncertainty of cost estimates and the potential for ‎unexpected costs and ‎expenses, currency fluctuations; regulatory restrictions, liability, competition, ‎loss of key employees and ‎other related risks and uncertainties disclosed under the heading "Risk ‎Factors" in the Company's most ‎recent filings filed with securities regulators in Canada on the SEDAR ‎website at www.sedar.com. The ‎Company undertakes no obligation to update forward-looking ‎information except as required by ‎applicable law. Such forward-looking information represents ‎managements' best judgment based on ‎information currently available. No forward-looking statement ‎can be guaranteed and actual future results ‎may vary materially. Accordingly, readers are advised not ‎to place undue reliance on forward-looking ‎statements or information.‎

More News by PR Newswire India

UPL Ranked No.1 For Sustainability Performance Amongst Its Peers For Second Year Running

Star Air wins the 'Highest average passenger load factor on RCS flights' award by The Ministry of Civil Aviation

HarperCollins presents 'The Ambuja Story: How a Group of Ordinary Men Created an Extraordinary Company' by Narotam Sekhsaria

AMPATH launches its Pathology Laboratory in Mumbai

Xinhua Silk Road: Heilongjiang ice-snow tourism industry dev. index & tourism data report released on Wed. in Shanghai

2021 PHBS-CJBS Global Pitch Competition Final Held in Shenzhen

Coding Ninjas announces winners of Code Kaze Season 5

Social For Action: Crowdfunding Solutions That Help In Empowering People

Róbert Wessman-led Aztiq and Innobic join forces in $475m acquisition of Lotus Pharmaceutical and Adalvo to create a global pharmaceutical powerhouse

Fulfil your dream to be a Superstar with Bajaj Allianz Life's 'Superstar After Retirement'

CPhI partners with Informa Pharma Intelligence to present the 2021 Hybrid Edition of CPhI - P-MEC Expo in the National Capital Region ( NCR)

TECNO Shared Insights on Camera Innovation and Its Latest Development of Imaging Technology in 2022 on an Industry Innovation Talk

Head Held High Foundation celebrates 10 years of serving marginalized rural communities

Microland recognised as an Innovator in the Avasant's Intelligent ITOps Services 2021-2022 RadarView

MoEngage launches Strategic Customer Advisory Board to Co-create their Product Innovation Roadmap, and Shape the Future of Customer Engagement & Experience

OneUnited Bank To Purchase NFT to Honor Legacy of Josephine Baker

Sineurope scores sustainability points and triples storage density with automated warehouse from Körber

Bostik further strengthens its global Flexible Lamination business in APAC by investing in the latest generation Nordmeccanica industrial laminator

A unique comparative study of five vaccines in EU member Hungary on 3.7 million people shows Sputnik V is the best vaccine to protect against mortality from COVID with 98% efficacy and 85.7% efficacy against infection

UKIBC, NASSCOM and techUK develop joint position paper to drive growth in digital and IT sectors

SolChicks IDO Breaking Blockchain World Records

PolyU launches its 85th Anniversary celebration, pledging to help Hong Kong shine as an international innovation and technology hub

Rario launches Marketplace feature to allow users to buy, sell and trade Cricket NFTs

How CIIE offers a window for multinational companies into the Chinese market

Sakal 'We Are In This Together', an initiative by Sakal Media Group to Bring Awareness about Mental Health

PayU becomes fully certified token requestor and token service provider for Mastercard and Visa

Xcelerate Inks Strategic Equity Partnership With Aparajitha

The Art of Living Presents 'The Unknown Edge' by Rajita Kulkarni Bagga

Thunes Announces Senior Hires to Lead Key Regions and Ramp up Global Expansion

Genesys International Ltd files two patents in 3D and Mobile mapping space

Tanla Recognized in the 2021 Gartner® CPaaS Competitive Landscape

Innovative €250,000 Parenteral Nutrition Research Grant Awarded by Fresenius Kabi

UST Achieves UiPath Services Network Certified Status for RPA Professional Services

CoreStack Closes $30 Million Series B Financing Round Led by Avatar Growth Capital

Vedanta announces mission statement 'Transforming for Good' in line with ESG Goals

Leading Indian Short Video App Hipi introduces its latest avatar offering the world's first AI-based in-video discovery feature

The Filmore Da Nang by Filmore to Launch in Hong Kong

St Kitts and Nevis Will Host Major Cricket Tournament in 2022, Showcasing World-Class Sports Facilities and Hospitality

Grammy® Winner Ricky Kej does India proud by securing another Grammy® Nomination for his album 'Divine Tides'

James Cook University in Singapore's business accreditation by AACSB International is an honour that represents excellence in business education.

The all-new Kia Niro world debuts at 2021 Seoul Mobility Show

IRONMAN Asia appoints Milind Soman as ambassador for the Standard Chartered Singapore Marathon 2021

ITF: Domestic violence is a workplace issue and a men's issue, unions tell employers

Critical Need for a Resilient Agri-Commodity Sector to Achieve COP26 Pledges

Artmarket.com: Artprice and Cision extend their alliance to 119 countries to become the world's leading press agency dedicated to the Art Market, NFTs and the Metaverse

TRON's first GameFi product WIN NFT HORSE will launch on BINANCE NFT IGO

RDIF announces major Sputnik V efficacy data from San Marino, an upcoming registration of the Sputnik M vaccine and reiterates vaccine combos are the key to fight the pandemic

Top 4 SA Teams from PUBG MOBILE Pro League MENA & South Asia Championship Season 1 Booked PUBG MOBILE Global Championship 2021 Slots

Sputnik V shows 80% long-term efficacy against COVID in San Marino from 6th through 8th month after administering the second dose

Singapore-based Ad-tech platform Infomo announces a merger with Indian-based Ad-tech platform TorcAI

Firefox Bikes launches State-of-the-Art 'Experience Centre' in Delhi

JM Financial launches Bondskart, a unique digital platform for ease of investment in debt securities

Frankfurt-Hahn Airport in Germany: Transaction process started

Welspun One signs a MoU with Tamil Nadu Government to invest INR 2500 Cr in the state

Kavalan Wins IWSC 'Worldwide Whiskey Producer Trophy'

K7 Cyber Threat Monitor Report For Q2 2021-22 Reports Pan-India Infection Rate of 45%

D-Link Smart Home Products Acquire Taiwan Excellence Award

PHD Chamber projects Q2 FY 2021-22 GDP growth at 8-10%

Mannin GmbH Implements CDD Vault Informatics Platform to Facilitate Data Management and Collaboration

LTI Enables Large Scale Digital Transformation for PIH Group of Companies

Hisense celebrates the FIFA World Cup 2022â„¢ One Year to Go with 'Too Big To Miss' campaign

Global COVID-19 Safety Innovator Expands Its Offerings

Laos becomes the 20th country to authorize the one-shot Sputnik Light vaccine

Joget Named in Analyst Report, The State Of Low-Code Platforms in China

Borderless Capital Closed a $10M PLANETS.Fund to Build Green Data Economy on Algorand

The one-shot Sputnik Light vaccine authorized in San Marino

Tiktok rival Lomotif launches in India with strategic partner Socialkyte

Integrated Solutions that can Plug the Security Gaps Arising from IT-OT Convergence to Find Increased Adoption

Sanjoe Tom Jose of Talview Named Winner of 2021 Thought Leadership and HR Excellence (Provider) Award for North America by HRO Today Association Awards

Yadea Dazzles at EICMA 2021 with Latest Product and New Technology

Brain Navi NaoTrac, the Brain Surgical Navigation Robot, Received European CE Mark Approval in 2021

Ribbon Call Trust® Announced Winner in the 2021 Pipeline Innovation Awards, Assurance Category

Black Friday Global Carnival - Users are the Ones that Creality Wants to Bring Benefits to

The Kripto Odyssey (T.K.O) Summit 2021: An Exploratory Voyage of Cryptocurrency and Its Blockchain Technological Foundation

Xinhua Silk Road: Gao'an City in E.China's Jiangxi shows traditional Chinese blue and white porcelain art

Hublot Starts the Clock - One Year to go Until the FIFA World Cup Qatar 2022â„¢ Begins

Mercury Safety Course For Dentists Launched In Multiple Languages

With its new generation LiDAR, Valeo makes autonomous mobility a reality

Xinhua Silk Road: SW. China's Pu'er City becomes golden growing belt for Arabica coffee

Exclusive Networks Signs Global Deal with Infinipoint to Extend Zero-Trust Security to Device Identity

Xinhua Silk Road: Forum on the Development of New Energy Vehicle Industry kicks off in E. China's Anhui

Russia to lead world organization United Cities and Local Governments (UCLG) for the first time

Shell India recognized as an 'Exemplar of Inclusion' by Working Mother and Avtar

One Of The Top 10 Telco Companies In The Americas Signs Multi-million-dollar Contract With Darktrace

Accor introduces Emblems Collection - a captivating portfolio of unique luxury hotels

UST Bengaluru Crosses 6000 Employees and Plans to Double the Headcount in the Next 2 years

XCMG Takes Top Place in the ICM20 Ranking of the World's Largest Crane Manufacturers

Microland and Securonix partner to deliver state-of-the-art managed SOC solutions

Deakin University is ready to welcome international students

XPDEL, LA-based eCommerce fulfillment network, launches operations in India

14th edition of the CPhI & P-MEC India Expo all set to unfold opportunities for India's Pharma market

Bert Labs Receives Funding of US$1million from a Family Office, as part of US$3million bridge round to further help companies meet their ESG goals

dunnhumby India expands leadership team with deeper engineering capabilities

The Commonwealth of Dominica Signs Historic Visa Waiver Agreement with People's Republic of China

Easy isn't Enough: A Revolution in Language Learning Apps with Linnet Chinese

Comscore Adds Veteran Executive Mr. Han Seng Lim to Lead Comscore's Client Services team in SE Asia

Lanka Premier League partners with cricket NFT platform Rario

Impartner Launches Industry's Most Robust, Secure PRM Integration with CRM Provider HubSpot

Innovative Multaka-Oxford refugee project at Oxford University Museums supported by £1m funding from Alwaleed Philanthropies

CGTN: "InnoBay 2021" Special Program focuses on Greater Bay Area's innovation dynamism

SonicWall Applauded by Frost & Sullivan for Delivering Superior and Reliable Cybersecurity Tools to Worldwide Organizations

Venture Global Announces Closing of $1,250,000,000 Senior Secured Notes by Venture Global Calcasieu Pass, LLC

Converged Hardware and Smart Mobility Solutions to Power the Next Generation of Urban Mobility Solutions

Certiport Names 2021 Adobe Certified Associate World Champion from Malaysia

CGTN:30 years on: China, ASEAN upgrade ties to comprehensive strategic partnership

ImpactWayv and Miss Universe Organization to Partner in Global Impact Challenge

Tata Communications GlobalRapide powers enterprises with intelligent, automated, cloud- first unified communications

SHL, Two Heads Consulting identify six shifts for creating an exceptional candidate experience

ValueLabs receives top award for employee care

A new ranking by MIT Technology Review Insights highlights the countries making the fastest progress to ocean sustainability

Aon appoints Jillian Slyfield as Chief Innovation Officer

World Trade Centers Association Honored for Dedication to International Trade and Investment by Diane Farrell, Acting Under Secretary for the U.S. Department of Commerce

Moratelindo Expands Capacity in Key Network Sections with Ribbon Optical Solutions

Jainam Ferro Alloys pulls off a mammoth show in First half, EBIDTA zooms 892% and PAT surged 13.9x (YoY)

Knowledge Marine & Engineering Works bags International Dredging Contract from Ministry of External Affairs, India

Prevest DenPro announces strong H1FY22 results, reports PAT at Rs 5.35 Crore

HarperCollins presents 'A Plane Story' by Anmol Malik

Introducing Johnnie Walker Masters of Flavour

The Office of Solms Baruth: New discovery of British involvement in "Operation Valkyrie" plot to kill Hitler

The 10 most vegan-friendly and future-ready cities in the world

BSV's new launch Carbetocin to improve the prevention of Post-Partum Haemorrhage (PPH)

Atumobile Launches innovative way to offer Test Drives with Showroom-on-Wheels - an exciting experience zone for the EV enthusiasts

OnMobile Global Launches O-Cade with Ooredoo Myanmar

Institute of Risk Management (IRM) India Regional Group and All India Council for Technical Education (AICTE) report uncovers gaps on Enterprise Risk Management (ERM) knowledge in the Indian higher education system

Pickrr expands its footprints, opens four more fulfilment centers in Ghaziabad, Lucknow, Guwahati, and Hyderabad

Digital payments for holiday packages and movies rule festive appetite with 200% and 450% growth respectively: PayU Insights Report - Festive Edition

Mirae Asset Mutual Fund launches ETF scheme replicating/tracking Hang Seng TECH Index

Vedas Cure introduces a unique Ayurvedic composition product for treating Anaemia and deficiency of Haemoglobin

IndianOil wins Community Collaboration Award at ACES Awards 2021

Nanoprecise Doubling AI-based PdM Deployment across Asian Metal Sector

New Models, New Energy | GAC at the Auto Guangzhou 2021

CStone Pharmaceuticals and Jiangsu Hengrui Pharmaceuticals announce strategic partnership and exclusive licensing agreement on anti-CTLA-4 monoclonal antibody CS1002 in Greater China

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Syro-Malabar Catholic Church implements ...
Delhi Police registers case against man ...
After acquiring nuclear weapons, Pakista...
Aide of former TN CM Palaniswami arreste...
'Naya J&K' gears up for polls, no Pak st...
Fake 'Work from Home' job syndicate flee...
More...    
 
 Top Stories
Premier League: City overcome Hamme... 
K'taka Police 'ban' on Munawar Faru... 
Heavy rains lash Trichy for third c... 
Musical show organised by Indian Ar... 
Assam reports 133 new COVID-19 case... 
Health workers travel through hilly... 
Peru earthquake results in injuries... 
UK stresses importance of getting A...