Rami Levy’s Kando Drones Raises 19 Million Shekels in IPO Valued at 102 Million

Kando Drones, the third public company associated with Israeli businessman Rami Levy, successfully raised 19 million shekels in a recent initial public offering (IPO), valuing the company at 102 million shekels post-money. The company conducted a non-uniform offering, receiving early bids from eight institutional investors and allocating shares accordingly. Of the total raised, 18 million shekels came from institutional investors and an additional one million shekels from the public. The underwriting was led by Eximus Capital, which also purchased shares worth 500,000 shekels.

This rapid IPO follows the publication of Kando Drones’ prospectus just last June. The company specializes in manufacturing drones for both defense and civilian markets, focusing on autonomous drone systems designed for intelligence, surveillance, facility and border security, and operational missions requiring simultaneous control of multiple drones from a single command center.

Kando Drones remains in its early stages as a private company, with revenues of 7 million shekels in 2025, up from 6.3 million shekels in 2024. However, it reported a net loss of 11.9 million shekels in 2025, worsening from a 6.4 million shekel loss the previous year. The company is led by CEO Yoeli Or, who owns 10% of the shares. Rami Levy is the largest shareholder with a 22.3% stake, acquired in 2022. Kando Drones has also conducted drone delivery trials between branches of Rami Levy’s supermarket chain, Rami Levy Shivuk Hashikma. Levy also owns the supermarket chain and the public real estate company Rami Levy Real Estate.