In the midst of the war with Iran and Lebanon, advanced gunsights developer and producer Smart Shooter has raised NIS 200 million in an IPO on the Tel Aviv Stock Exchange (TASE) at a company valuation of NIS 640 million, before money.
The offering was led by Rosario Capital. In addition, the company’s major shareholders sold some of their shares for approximately NIS 60 million. The company’s cofounders, CEO and chair Michal Mor and CTO Avshalom Ehrlich sold a portion of their shares for about NIS 18 million each.
They were joined by early stage investors, the Canadian investment group of Canadian businessman Mayer Gniwisch (Smart Shooter LP), and the Jewish-Chilean businessman Alejandro Weinstein, who sold shares worth approximately NIS 10 million each.
Other shareholders Maj. Gen. (res.) Nitsan Alon, who during the Swords of Iron war headed the Hostages and Missing Persons Command, and Dr. Avraham Mazor, formerly a senior manager at Rafael Advanced Defense Systems, sold shares for NIS 2 million each. The largest Israeli shareholders Phoenix Finance did not sell any shares, Hachshara Insurance Company and Altshuler Shaham Investment House did not sell any shares.
Mor said, “The company’s IPO on the Tel Aviv Stock Exchange is a milestone in realizing our vision of expanding the company’s activities and positioning it as a leading player that brings high-precision shooting capabilities to the field for infantry and maneuvering, offensive and defensive forces. We thank the investors who participated in the IPO for expressing their confidence in the company and its business strategy. We intend to use the proceeds from the funding to accelerate the company’s global expansion and accelerate our growth trend in the markets in which we operate.”
Smart Shooter was founded by Mor and Ehrlich, both formerly with Rafael Advanced Defense Systems, in 2011. It develops and sells electro-optic fire control systems. Over the years, the company has developed its SMASH technology which facilitates accurate hits on ground and aerial targets, whether static or moving, independently of the abilities and experience of the user. Its flagship product is the Dagger gunsight, which was used against attack drones in the Swords of Iron war.
In the first nine months of 2025 Smart Shooter had $20.8 million revenue, 241% more than in the corresponding period of 2024. It narrowed its net loss to NIS 332,000 from $6.7 million in the corresponding period. At the beginning of February, the company had an orders backlog of $35.2 million.
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40% of the company’s revenue is from Europe, and 36% is from Israel, mainly from the Directorate of Defense Research & Development (MAFAT) in the Ministry of Defense, while 20% is from the rest of the world, particularly from the Abraham Accords countries.
Published by Globes, Israel business news – en.globes.co.il – on March 2, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
