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Xtend Raises $40 Million in Funding Round Focused on Defense

Almost ten years ago, brothers Aviv and Matteo Shapira co-founded Replay, a company that developed a unique video format for 360-degree replays commonly used in major sports broadcasts. After Intel acquired Replay for $175 million in 2016, the brothers were introduced to drone racing by Rubi Liani, founder of Israel’s drone racing league (FRIL), which inspired them to start Xtend.

Xtend's platform allows operators to control drones and robots, train AI models, and orchestrate teams to perform tasks autonomously. The company recently raised $40 million in funding from Chartered Group, valuing it at around $110 million post-money.

While Xtend's technology caters to various industries, its focus is on military, defense, and law enforcement applications. The company has contracts with the Israel Defense Forces (IDF) and the U.S. Department of Defense, developing systems like drone interceptors. Xtend is also exploring opportunities in the public and private security sectors.

Despite facing scrutiny from international watchdogs for receiving EU funding despite restrictions on military projects, Xtend remains dedicated to supporting the IDF. The company's drones have been used for tasks like tunnel mapping and reconnaissance with explosive payloads, contributing to its success with over $50 million in contracts across 50 organizations.

With plans to expand its workforce and sales models, Xtend aims to continue revolutionizing robotics in scenarios like search and rescue and infrastructure inspection. International expansion, particularly in Japan, is on the horizon for Xtend.

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