SmartChutes: Drone Parachute Recovery System

SmartChutes is running a Kickstarter campaign for its autonomous parachute recovery system for quadcopters.
SmartChutes is an intelligent parachute system that has been designed specifically for the multicopter platform (patent pending). The SmartShoot system contains an integrated gyroscope and accelerometer that is able to determine when the multicopter has experienced an in-flight emergency.
(The SmartChute's flight sensor classifies free fall, tumbles, or flips as an in-flight emergency.)
When an emergency is detected, the SmartChutes system will launch a large 36" parachute automatically, with no input required from the pilot.
The SmartChutes system comes with its very own lightweight battery, ensuring that the SmartChute system will operate even under total power loss of the multicopter.
PLEASE NOTE: The final SmartChutes parachute deployment canister that you will receive will be much smaller and lighter than the prototype pictured. The final parachute deployment canister will have a length of 4.25" a diameter of 1.5" and be made of carbon fiber. The SmartChutes system will not interfere with normal camera or gimbal placement.
Source: Kickstarter