JERUSALEM, Sept 30 (Reuters) - Israeli defence
technology startup Commcrete said on Tuesday it raised $29
million in early stage funding rounds, as the country's defence
sector faces supply challenges from abroad.
Commcrete develops handheld satellite communication systems,
which are already deployed by defence, special operations, and
emergency response teams, it said. One of its products converts
any radio, from military-grade hardware to off-the-shelf
walkie-talkies, into a satellite-enabled system.
Earlier this month, Prime Minister Benjamin Netanyahu
spooked investors when he acknowledged Israel's growing
isolation over the two-year war against Hamas militants in Gaza
and said the country should reduce its dependence on foreign
trade and become more self-reliant, especially in defence. Some
European countries have begun to hold back on military supplies
to Israel.
Commcrete's latest funding, which includes $21 million in a
Series A round, was led by Greenfield Partners, with
participation from Redseed Ventures and existing investors,
building on a seed round backed by Amnon Shashua, founder of
Mobileye, together with Q Fund and others.
The funding, Commcrete said, will support global expansion
as its ultra-compact SATCOM systems gain adoption by defence,
security, and emergency organizations in Europe, North America,
East Asia, Australia, and the Middle East.
(Reporting by Steven Scheer; Editing by Emelia
Sithole-Matarise)