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Colugo Systems, an Israeli company specializing in electric drones, has raised US$8.5 million in its initial funding round.
Led by Ayalon Insurance and Finance, this investment values the company at US$65 million pre-funding.
Founded in 2018, Colugo has primarily generated revenue through sales without external investment.
Its drones are used by the Israel Defense Forces and other security agencies, and are increasingly adopted in civilian sectors, especially in electric vertical takeoff and landing (eVTOL) applications.
Colugo reported US$4 million in revenue in 2024, with drones used for surveillance, logistics, emergency response, and delivery.
