The Israeli supermarket chains has invested for a 33.3% stake in Cando Drones, which was founded by three former senior IDF officers.
Israeli supermarket chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI), like the biggest retail chains in the US, has made a move towards food drone deliveries.
Rami Levy has notified the Tel Aviv Stock Exchange that earlier this month it signed an investment agreement with Cando Drones, which is engaged in command, control and operation of drone fleets.
Cando Drones was founded by three former senior IDF officers: CEO Yoely Or, a Brigadier General in the reserves who served in many senior positions including in the Marines; COO Alon Kloss, a Brigadier General in the reserves who served as chief artillery officer; and CTO Moshe Kitnis, a Colonel in the reserves with experience in technological entrepreneurship.
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Rami Levy has acquired a 33.3% stake in Cando Drones. The valuation of the company was not disclosed. The Israeli retail chain plans operating a fleet of 100 drones, which will operate simultaneously as part of a delivery network.
Published by Globes, Israel business news – en.globes.co.il – on August 22, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Delivery drones Credit: SAhutterstock Volodymyr Goinyk
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