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Mobilicom receives $3.65m investment from Israel’s largest institutional investor; shares see a slight rise

Shares in tech stock Mobilicom (ASX:MOB) rose as much as 20 per cent this morning after Israeli investment fund Psagot chipped in over $3.6 million.

Psagot is Israel’s largest pension fund manager, controlling NIS180 billion ($70 billion) of assets. It has agreed to invest $3.65 million in Mobilicom consisting of 64 million shares at 6 cents each and another 64 million options.

Mobilicom specialises in communications and technologies enabling drones to communicate with each other or send data back to a central database.

The global commercial drone market generally is tipped to explode in the coming years, predicted by Fortune Business Insights to hit US$8.5 million by 2027 which would represent five-fold growth from 2019.

The industry has been helped by increased defence spending as well as relaxation of restrictions on drones, particularly in Europe.

To read the complete article: Mobilicom receives $3.65m investment from Israel’s largest institutional investor; shares see a slight rise – Stockhead

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Drone industry is flying off the back of escalating global tensions

StockTalk is a Stockhead video series featuring a roundtable of experts discussing a new investment topic each week. In this edition, host Dr Nigel Finch discusses the high-flying drone market.

Populating the expert panel this week is Philippe Odouard, managing director of XTEK (ASX:XTE), Oren Elkayam, CEO and co-founder of Mobilicom (ASX:MOB) and Oleg Vornik, CEO of DroneSheild (ASX:DRO).

 

The drone industry is already a $100bn market — here are some clues for where it may fly next

 

Deploying tech developed in Israel, Mobilicom has signed agreements to supply components with 74 of the 160 drone manufacturers globally.

Hart also noted the potential of additional memorandums of understanding (MOUs) the company has signed with other major distributors.

“They’ve also set up a communications platform which can operate independent of network infrastructure, which means it’s not dependent on towers or satellites,” he said.

“So that’s a relevant use-case on days like today in NSW, where emergency services in areas with low coverage could use a secure reliable communications network.

“So we think that gives the company a platform for growth that’s in line with the broader growth in commercial drone technology, because of their offerings that address a lot of those problems that applications in the sector are looking to solve.”

To read the complete article, click here.

 

Photo Credit:Getty Images via Stockhead