Rami Levy adds drones to his public market empire
Cando Drones becomes the businessman’s third publicly traded company after raising NIS 19 million ahead of its stock market debut.
Cando Drones, backed by businessman Rami Levy, has raised NIS 19 million ($6.3M) ahead of its listing on the Tel Aviv Stock Exchange, at a post-money valuation of NIS 102 million ($33.8M). The company conducted a non-uniform offering, in which it received early commitments from eight institutional investors and allocated shares accordingly.
The company raised NIS 18 million from institutional investors and an additional NIS 1 million from the public. The offering was led by underwriting firm Eximus Capital, which itself purchased shares worth NIS 500,000.
The listing is being carried out under a fast-track "shelf" offering process, after the drone company published its prospectus only in June.
Cando Drones develops and manufactures drones for both defense and civilian markets. The company defines its business as the development and operation of autonomous drone systems designed for intelligence and surveillance missions, facility and border security, and operational scenarios requiring the simultaneous deployment of multiple drones controlled from a single command center.
The privately held company is still in its early stages. Its revenue totaled only NIS 7 million in 2025, compared with NIS 6.3 million in 2024. The company ended 2025 with a net loss of NIS 11.9 million, compared with a loss of NIS 6.4 million the previous year.
Cando is led by CEO Yoely Or, who owns 10% of the company’s shares.
The company’s largest shareholder is Rami Levy, who holds a 22.3% stake after acquiring shares in 2022. Cando has conducted delivery trials between branches of Rami Levy Hashikma Marketing, the supermarket chain controlled by Levy.
Levy already controls two publicly traded companies: Rami Levy Hashikma Marketing and Rami Levy Real Estate, making Cando Drones his third company to reach the stock market.
