ASIO Raises $15 Million to Scale Israeli Tactical Systems Worldwide

Israeli defense-technology company ASIO completed its first external funding round, raising $15 million in a deal led by Protego Ventures and co-led by Aliya Capital Partners. The Kfar Saba company, founded by brothers Tomer and Yaniv Malchi after more than two decades of self-financed growth, said the capital will expand production, product development and global operations. Its GeoFusion-based systems support navigation, coordination and situational awareness when GPS or communications are disrupted, and are deployed across the IDF and with overseas defense customers. ASIO is also expected to supply unmanned-aircraft components to U.S. defense company Anduril under a deal estimated at tens of millions of dollars.