The Emirati defense conglomerate EDGE has invested $10 million in the Israeli startup company Thirdeye, which is specialized in artificial intelligence-based electro-optical systems that detect drones. EDGE is a global company, which owns 25 subsidies and employs some 12,000 workers worldwide.
The investment means that EDGE has secured a 30% stake in the Israeli startup, which is based in the coastal city of Netanya just north of Tel Aviv.
The Emirati conglomerate reportedly also intends to invest an additional $12 million to develop and commercialize Thirdeye’s tech solutions, which are based on AI-based networks that utilize analytics and algorithms.
The two parties agreed to form a joint venture where EGDE will own a 51% stake, Thirdeye will control 43% and the remaining 6% will be controlled by a third party.
Thirdeye CEO Lior Segal welcomed the new partnership with EDGE.
“This technological and security partnership sends a strong message about the capabilities of our AI-driven products and their contribution to national security,” Segal stated. “Partnering with a globally recognized supplier like EDGE will help us showcase Thirdeye Systems’ technological advantages and further expand our footprint in additional international markets.”
EDGE Group President and CFO Rodrigo Torres said the “transaction reflects our confidence in Thirdeye Systems’ solutions, which provide a critical layer of protection in unmanned aerial vehicle detection.”
“We believe this collaboration would benefit both parties and accelerate the development of new products to enhance identification capabilities in the evolving modern warfare,” Torres stated.
Drones have emerged as a serious security threat in the war in Ukraine and the war of Israel against the Iranian-backed terrorist militias Hamas, Hezbollah and the Houthis. Unlike missiles, drones fly at a lower altitude and are consequently more difficult to neutralize in midair. In addition, aerial defense systems often mistake drones for birds who fly at similar altitudes.
Israel, which is a pioneer in drone technologies, has proactively forged cooperation with allies around the world. In September 2024, Israel and India decided to strengthen security cooperation against the growing global drone threat.
“We see great importance in sharing knowledge and technologies and in developing joint solutions to the modern threats facing both sides,” Indian Defense Ministry representative Shri Amit Satija stated.
The United Arab Emirates (UAE) and Israel normalized diplomatic relations as part of the Arab Israeli Abraham Accords in 2020. The historic agreement led to a rapid bilateral cooperation in areas such as trade, technology and tourism. Bilateral trade between the UAE and Israel in 2021 reached $1.15 billion, a whopping 511% increase compared to the previous year.
The Jewish state’s largest defense company, Israel Aerospace Industries (IAI) has entered various cooperation agreements with Emirati-based companies.
In 2021, the EDGE group signed an agreement with IAI to jointly develop systems to intercept drones and other aerial threats. Due to its geographical location in the Persian Gulf, the UAE is vulnerable to drone attacks from Iran and its regional terrorist proxies, such as the Houthis.
In March 2023, Israel and the UAE completed the signing of a free trade agreement. Israeli Prime Minister Benjamin Netanyahu welcomed the historic trade agreement with the Emiratis.
“The historic peace accord we signed with the UAE continues to bear fruit for the benefit of the citizens of both countries,” Netanyahu stated. “I am positive that we will continue to expand Israel’s circle of peace with other regional neighbors.”
