ParaZero Technologies Ltd., a provider of safety solutions for commercial and defense unmanned aerial systems (UAS), has signed a non-binding Letter of Intent (LOI) to acquire 100% of the issued and outstanding share capital of Lulav Space Ltd.
Lulav specializes in space-grade navigation, sensing technologies, counter-drone systems, and other autonomous technologies. The company was founded in 2021 with the goal of developing vision-based precision navigation systems for space robotics missions.
Lulav also develops advanced guidance, navigation, and control technologies that integrate both software and hardware to enable autonomous systems in extreme and challenging environments.
The company’s landing system was selected as the primary navigation solution for both landers in the “Beresheet 2” lunar mission. Building on its proven capabilities and IP in space applications, Lulav has recently expanded into the defense sector, developing counter-drone systems and autonomous drone technologies.
Lulav’s flagship products include:
- Advanced Guidance Kit: Platform-agnostic module that can be integrated into most drones, enabling autonomous kinetic interception of drone swarms.
- Autonomous Navigation Kit: 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 and be completed through a combination of cash and equity.
Boaz Shetzer, CEO of ParaZero, commented, “This proposed acquisition aligns with ParaZero’s vision to expand its capabilities in the CUAS field. Lulav’s proven expertise in autonomous solutions, precision navigation, deep-space sensing and counter-drone applications would add powerful capabilities to our portfolio as we continue expand into the defense market. Lulav’s solutions would also open new commercial market potential for ParaZero, adding more value and potential growth in the future.”
