Exhibit 21.1
List of Subsidiaries of Red Cat Holdings, Inc.
| Name of Subsidiaries | Jurisdiction | |
| Red Cat Propware, Inc. | Nevada | |
| Rotor Riot, LLC | Ohio | |
| Fat Shark Holdings, Ltd. | Indirect Subsidiary (Cayman) | |
| Fat Shark Tech, Ltd. | Indirect Subsidiary (Cayman) | |
| Fat Shark Technology SEZC | Indirect Subsidiary (Cayman) | |
| FS Acquisition Corp. | Subsidiary (Nevada) | |
| Skypersonic, Inc. | Indirect Subsidiary (Michigan) | |
| Red Cat Skypersonic, Inc. | Subsidiary (Nevada) | |
| Teal Acquisition I, Inc. | Subsidiary (Delaware) |