Candor Drones, controlled by Rami Levy Retail Networks, is moving toward a Tel Aviv Stock Exchange listing and plans to raise about NIS 19 million, with another NIS 14 million potentially coming from warrants if fully exercised. The company is seeking a pre-money valuation of about NIS 83 million, which would make it Rami Levy’s third public company in Israel.
Candor Drones develops autonomous drone systems for both security and civilian uses. Its security business provides monitoring, guarding and documentation services for civilian clients such as local authorities, commercial sites and industrial plants. On the civilian side, it offers warehouse inventory automation, stock control and goods-and-people transport through dedicated drone systems called Dronery.
After the start of the war, the company teamed with Alpo System to develop a drone-mounted weapon platform carrying either a 5.56 mm or 7.62 mm machine gun for targeted covering fire or remote automatic fire from above. The system was demonstrated to the Defense Ministry’s MAFAT last year and is now under review and approval for a first order.
Candor Drones was founded in late 2019 by three former senior officers, Yoeli Or, Moshe Kipnis and Alon Kloss. Or, the CEO, holds about 18%, while Kipnis and Kloss hold about 9% and 7%, respectively. Rami Levy Retail Networks owns 30.5% after buying roughly a third of the company in 2022 for about NIS 1.7 million, and it also extended a NIS 3.3 million shareholder loan. In 2025, the company reported revenue of about NIS 7 million, up 11% from 2024, but net loss widened to NIS 11.9 million from NIS 6.4 million. It also had a NIS 3.4 million working-capital deficit and negative operating cash flow of NIS 2.9 million, leading auditors to warn of a “going concern” risk.
