The Big Boost for a Tech Powerhouse
A Tel Aviv-based drone operating system provider, known for its partnerships with the US Defense Department and the Israeli army, has recently snagged $40 million to beef up its civilian sector. This move comes right after the company’s technology saw action on the battlefields of the Gaza Strip, reports Bloomberg.
From Battlefield to Business
Xtend, the company behind this innovative technology, enables human operators to control small drones through a virtual reality (VR) operating system. This system isn’t just a hit with the military—its civilian applications are also on the rise, prompting a significant investment to fuel growth. The round was led by Chartered Group, with contributions from previous backers like NFX and TAU Ventures, and strategic new investors including Clal-Tech.
Looking Ahead
This influx of $40 million marks a pivotal shift for Xtend, aiming to transition its battlefield-tested tech to broader markets. The investment underscores a strong confidence in the potential of Drone Technology to transcend its military origins and revolutionize various civilian industries. With such robust backing, Xtend is set to soar in both defense and commercial sectors, proving that what works in war can work wonders in peace.
Photo courtesy of Xtend.
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