Elron raised NIS 112 million, and issued 106.6 million shares at a market value of NIS 536 million

Elron, which is controlled by Discount Investments and invests in medical equipment, cyber and software companies, raised NIS 112 million, and issued 106.6 million shares, at a price of NIS 12.6 per share, in relation to last night's closing price of NIS 12.45, or the company's market value is approx. NIS 536 million
The company owns about 25 portfolio companies, most in the field of enterprise software and cyber, and some in the field of medical devices. This is after in recent years, the company changed focus and shifted the weight of the investment to cyber companies at the beginning of their journey, through investment in the Seed phase (initial recruitment) or in the first round of recruitment.
Tzachi Nachmias, Chairman of Elron: "I congratulate the successful IPO. Elron continues to work to improve its portfolio companies and will now be able to increase the rate of investments in the cyber and software fields."
Yaron Elad, CEO of the company: "We are entering 2021 after completing a strategic change towards investments in the cyber and software field with a strong portfolio and a variety of mature companies alongside young companies and after recording a number of exits in the field."
About six months ago, the company's CEO Yaron Elad said in an interview with BizPortal, “I think in the coming years Elron will be after a few more exits from the portfolio, after she proved the value inherent in the companies. In addition, it went through another 3 years of continuing to build companies in the world of software and cyber. I hope that by then we will have a significant number of companies that will reach advanced recruitment rounds with the potential for hundreds of millions of dollars in value floods. "
The company, which took part in the establishment of Elbit Systems together with the Ministry of Defense, was a partner in several other companies whose names made headlines over the years and became well-known among the investing public. Netvision, Zoran, Given Imaging, Elscint, Orbotok and Sterling are just some of the companies in which the company took part in their establishment over the years and made an exit.
Elron is a venture capital company that specializes in early-stage investments and focuses on building technology companies. Elron currently has holdings in medical equipment, cyber and software for organizations, in the amount of about $ 230 million in companies such as Open Legacy, Sixgill, IronScales, Brainsgate and Carthill.