Airbotics Raises NIS 21 Million on Tel Aviv Stock Eachange

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Airobotics raised NIS 21 million on the Tel Aviv stock exchange, at a value of NIS 100 $31 million) before going public. This is a much lower sum than the company originally anticipated. Airobotics initially contemplated setting its value at $160 million, and then lowered its valuation to $100 million, and still could not raise the desired sum. The company had enjoyed Microsoft and Our Crowd investments and had, at its peak, reached a valuation of $240 million. However, while Airobotics has successfully developed a very advanced drone that can fly for 40 minutes, then return to home base, and change its battery all automatically, the company has had trouble finding customers who need the advanced capability it offers.

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