Israeli defense-technology company ASIO has raised $15 million in its first funding round as it seeks to expand production, accelerate product development and increase sales to defense customers worldwide.
The round was led by Israeli defense-focused venture capital fund Protego Ventures, with Miami-based Aliya Capital Partners serving as co-lead investor.
ASIO founders Tomer and Yaniv Malchi
(Photo: ASIO)
Founded by Tomer and Yaniv Malchi, ASIO develops tactical systems designed for military forces operating in complex environments where communications and satellite navigation may be disrupted.
The company’s products are built around its proprietary GeoFusion technology, which is intended to help different forces coordinate operations, maintain situational awareness and navigate without relying continuously on GPS or communications networks.
ASIO said its systems are deployed across all branches of the Israel Defense Forces and are also used by defense customers internationally.
“This investment marks an important milestone in ASIO’s growth,” founder and CEO Tomer Malchi said.
“Modern battlefields demand technologies that enable tactical units to operate independently, maintain mission continuity, and make faster, better-informed decisions and to support interoperability with other system in the field,” he said.
“This investment will allow us to accelerate innovation, expand globally, and continue delivering combat-proven operational capabilities that can be deployed at scale.”
ASIO was built as a profitable, bootstrapped company before raising outside capital, according to the company.
It said the new funding would be used to increase production, speed up product development and expand partnerships with governments, major defense contractors, original equipment manufacturers and other industry partners in North America, Europe and Asia.
“Most defense companies solve for a single platform. ASIO solved the harder problem, keeping joint forces coordinated, oriented, and autonomous when GPS and comms fall away,” said Lital Leshem, co-founder and managing partner at Protego Ventures.
“That’s what GeoFusion delivers, and it’s why their systems are trusted around the globe. Backing operators who reached this maturity while staying profitable and bootstrapped isn’t a bet on a sector, it’s a bet on a company the field can’t fight without. We’re proud to lead this round.”
Aliya Capital Partners founder and CEO Ross Kestin described ASIO as a “category-defining defense technology company” with combat-tested systems and an efficient business model.
“This investment deepens our commitment to Israel’s defense-tech ecosystem, and we’re proud to co-lead alongside Protego Ventures in backing Tomer, Yaniv, and the ASIO team as they scale their platform to defense customers around the world,” Kestin said.
ASIO’s product portfolio includes command-and-control systems, tactical intelligence tools, situational-awareness platforms, target-acquisition technology and navigation systems designed to operate independently of GPS.
The company also develops navigation technology for aerial platforms and systems used to determine direction in environments where conventional navigation tools may be unavailable or unreliable.