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, 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.