Israeli Drone Firm Raises $30 Million to Scale Up US Production

A Tel Aviv-based drone startup that this month opened a manufacturing facility in Tampa, Florida has raised $30 million to scale up production.

Xtend will initially produce small drones for the US military in its Tampa, Florida facility

Source: Xtend

Xtend, which has provided the US, Israeli and Ukrainian militaries with drones, raised the money as an extension of a Series B round announced last year, bringing the total to $70 million, the company said in a statement Tuesday. Aliya Capital Partners and Protego Ventures co-led the round, alongside existing investors including billionaire Len Blavatnik’s Claltech.

Unmanned aerial vehicles have proliferated in recent conflicts, as the relatively cheap and versatile weapons take on new roles ...