XTEND Rings the Opening Bell at the New York Stock Exchange

XTEND, an AI robotics company and a portfolio company of MD One Ventures' National Security Innovation Fund, rang the opening bell at the New York Stock Exchange on 8 September 2026. Co-founders Aviv Shapira and Rubi Liani marked the company's arrival on the public markets alongside the XTEND team.

The company now trades under the ticker XTND, following the completion of its business combination with JFB Construction Holdings. The transaction closed on 3 September, raising $110 million in total capital with approximately $67.7 million delivered at closing. Shares began trading on 4 September and closed the first session at $6.19, valuing the combined company at approximately $1.54 billion.

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MD One invested on a specific conviction: that the binding constraint in unmanned systems is not the airframe but the interface between operator and machine. The difficult problem in contested environments is enabling one operator to direct many autonomous systems when the data link degrades, navigation is denied, and an adversary is working actively to defeat you.

XTEND built for that problem from the start. Its XOS platform is a hardware-agnostic mission execution operating system, and the company now describes its category as Physical AI rather than drones.

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Founded on delivery

XTEND reports more than 12,500 systems fielded across in excess of 30 countries, with capability validated in five combat zones and manufacturing distributed across the United States, United Kingdom, Singapore, Israel and Latvia.

The weeks before listing brought a run of programme awards: a multi-year NATO contract worth approximately $15 million, acceptance of the X-Strike package into the Pentagon's Drone Dominance Program, and delivery of M6F tactical ISR systems to an Asia-Pacific defence customer. DroneXL's interview with Aviv Shapira sets out the company's position ahead of the Gauntlet II decision, which Shapira expects will see each winner take between 4,000 and 8,000 units.

The company remains early in its commercial scaling. Calcalist reports 2025 revenue of $20 million against a net loss of $27 million, with the prospectus projecting $85.6 million for 2026 and $150 million for 2027. Listing capital is directed at manufacturing capacity and platform scale.

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A milestone for European defence technology

Europe has spent a decade being told there is no public market for defence technology. XTEND is evidence to the contrary — and a reminder of how much work remains to build a domestic route to public markets that founders in this category find credible.

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MD One Ventures congratulates Aviv Shapira, Rubi Liani, Tal Horesh and the entire XTEND team.

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Further coverage

• Dealroom — XTEND to list on NYSE via all-stock merger
• The Jerusalem Post — Israeli drone company XTEND to begin trading on the NYSE
• The Drone Girl — analysis of the XTEND/JFB merger and listing
• XTEND — $60 million cash confirmation
• Live quote: StockAnalysis · MarketChameleon · Benzinga

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