Gadfin

Company Overview

Snapshot

Founded in July 2018 by Eyal Regev and Ran Kleiner, Gadfin operates with 11–50 employees. The company has raised $7 million across three funding rounds from four investors, with SIBF VC notably leading one round. Gadfin is set to merge with Israel Acquisition Corp., a SPAC, to go public on Nasdaq, with a valuation estimated between $100 million and $200 million.

Business overview

Gadfin develops hydrogen-powered drones for long-range urgent deliveries and preventive maintenance missions within the Aerospace, Defense & HLS sector. Its core technology features patented aerodynamics for drag reduction, a folding-wing mechanism, and an integrated hydrogen fuel cell system, enabling extended flight range and energy efficiency. The company's Spirit-One drone, designed for 3–6 kg payloads, facilitates the delivery of medical and other time-critical supplies. Gadfin's platform is engineered for autonomous operation via unmanned robotic centers, serving industries such as healthcare for medical logistics and infrastructure for inspections.

Strategic signal

In January 2025, Gadfin announced a merger with Israel Acquisitions Corp., a SPAC, valuing the company at up to $200 million, with the deal expected to close in the second half of 2025. This move signals a significant growth trajectory for Gadfin, positioning it for public trading on Nasdaq and enabling substantial expansion in the logistics industry, particularly for its hydrogen-powered drone technology.

Company Intelligence Q&A

What is the most significant recent corporate development for Gadfin?

In January 2025, Gadfin announced a merger with Israel Acquisitions Corp., a SPAC, with the company valued at up to $200 million. This transaction is anticipated to conclude in the second half of 2025, subject to approvals.

Which investors participated in Gadfin's Series A funding round?

In May 2022, Gadfin raised $7 million in a Series A funding round led by SIBF VC, with participation from.

What strategic partnership did Gadfin secure for medical deliveries?

In February 2023, Gadfin closed a deal with Sarel, Israel's largest medical purchasing and logistics company, to establish the first aerial drone grid for delivering medical equipment to hospitals. This partnership aims to launch a pilot program for medicine and medical equipment delivery in July 2024.

What was Gadfin's valuation in connection with its planned public listing?

In October 2024, it was estimated that Gadfin's valuation upon entering Nasdaq, following its merger with Israel Acquisition Corp., would range between $100 million and $200 million.

What was a notable early partnership for Gadfin?

In September 2020, Gadfin was selected by ENEL, a global electricity infrastructure company, to conduct infrastructure inspections covering 800,000 km annually, with the potential for the deal to be worth up to $12 million per year.