Israeli Startup CoreTigo, Once Valued at $45 Million, Sold for $350,000
Translated & summarized from Calcalist by baba
The Israeli startup CoreTigo, which developed wireless communication systems for industrial machines, has been sold for $350,000 to Japanese company Aeterlink Corp. The company, which had previously raised $45 million from investors like Amazon and Lenovo, entered liquidation earlier this year due to financial insolvency. The sale was approved by the Central District Court, with the liquidator successfully negotiating a higher price for the company's assets, technology, and intellectual property.
The story in 5 lines · by baba
- Israeli startup CoreTigo was sold for $350,000 to Japan's Aeterlink Corp.
- CoreTigo had previously raised $45 million from investors including Amazon and Lenovo.
- The company entered liquidation proceedings earlier this year due to insolvency.
- A key German client's order postponements led to CoreTigo's financial collapse.
- The sale includes CoreTigo's patents, intellectual property, and technology.
The Central District Court has approved the sale of all assets, technology, and intellectual property of the Israeli startup CoreTigo to the Japanese company Aeterlink Corp for $350,000. The decision comes after CoreTigo, founded in 2017, entered liquidation proceedings earlier this year due to insolvency.
CoreTigo specialized in developing advanced wireless communication systems for industrial machinery under the IO-Link Wireless standard. These systems functioned similarly to industrial Wi-Fi routers, connecting industrial computers to components like sensors, robotic arms, and motors. The company also produced communication products for specific industrial applications, including packaging and package sorting machines.
According to a filing by the company, CoreTigo had raised approximately $45 million from prominent strategic and financial investors, including Amazon, Qualcomm, Verizon, and Lenovo, as well as Israeli investors like Meitav Dash. The company's financial collapse was primarily attributed to its heavy reliance on a single German sensor manufacturer, which accounted for about 50% of its revenue.
Following a crisis in the German automotive industry in 2025, this key client repeatedly postponed its orders. By January 2026, CoreTigo, facing a cash flow shortage to cover debts to suppliers, employees, and landlords, filed for insolvency proceedings. Judge Hana Kitzis ordered the company's liquidation in February 2026 and appointed Gil Efrati as liquidator.
An invitation for bids by the liquidator yielded no serious offers, except for a single inquiry from a German company that later withdrew, and minimal bids for inventory only. Efrati then negotiated independently with Aeterlink Corp, ultimately raising the offer to $350,000 for the company's patents, patent applications, intellectual property rights, technology, and goodwill.
Attorney Ofir Ronen, representing the employees, expressed satisfaction with the deal, stating he would work to ensure the relevant employees receive their remaining entitlements up to the priority limit, after already receiving their final payments from the National Insurance Institute, totaling NIS 134,966. Liquidator Gil Efrati noted that the sale as a whole yielded significantly higher returns for creditors than partial offers, thanking the Israel Innovation Authority for its cooperation and support.
Mentioned
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Other 2
