ParaZero Technologies has signed a non-binding Letter of Intent (LOI) to acquire 100 percent of the issued and outstanding share capital of Lulav Space Ltd, an Israel-based startup. Lulav specialises in space-grade navigation, sensing technologies, counter-drone systems and other autonomous technologies .
Lulav has quite recently expanded into the defence sector, developing counter-uncrewed aerial systems (C-UAS) and UAS technologies. Products include a platform-agnostic module that can be integrated into most drones, enabling autonomous kinetic interception of drone swarms; and a GPS-independent system combining EO/IR sensors with a Visual-Inertial SLAM algorithm, enabling autonomous operation of aerial platforms in GPS-denied environments.
Subject to the completion of due diligence and the execution of definitive agreements, the proposed acquisition is expected to close in the second quarter of 2025 and be completed through a combination of cash and equity.
Boaz Shetzer, CEO of ParaZero, said the proposed acquisition aligns with ParaZero’s intention to expand its C-UAS capabilities. The company announced its intention to enter the C-UAS market in May 2024 and received its first C-UAS order in September.
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Image: ParaZero’s DefendAir system
