Facebook product manager, David E Weekly, starts syndicate to invest in drone...

Facebook product manager, David E Weekly, starts syndicate to invest in drone startups

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US: David E Weekly, Product Manager at Facebook and a startup advisor has started a syndicate on AngelList to invest in early-stage drone companies. The plans are to invest for as little as $1k per deal.

As per the note on AngleList, the Syndicate built to discover and invest in prototype-phase companies working with drones. It is expected to do fivedeals in a year. The syndicate currently has a fund of $28,500 from 12 approved backers.

Investments are intended to be the first money in to these companies, often as early as time of incorporation. Applications are expected to cover a very wide range of geographies and industries, including farming, oil and gas, real estate, retail/delivery, and security/surveillance.

However, the vision excludes projects on military-focused applications or weaponised platforms.

Source: AngelList