Israeli robotics company XTEND AI Robotics (Nasdaq: URGN) has completed its merger with US company JFB and its shares will begin trading on the New York Stock Exchange (NYSE) on Friday, September 4 under the XTND ticker.
XTND, which was chosen as one of "Globes" 10 most promising startups in 2024, has merged with JFB, which was previously engaged in the construction industry. The merger has been completed at a company valuation for XTEND of $1.5 billion, which was set by US consultancy company Stevens & Marshall in February 2026.
XTEND is led by CEO Aviv Shapira who cofounded the company with Adir Tubi, Rubi Liani, and Matteo Shapira in 2018. The Shapira brothers had previously founded Replay Technologies, which was acquired by Intel for 170 million ten years ago.
From gaming to security response on the Gaza border
XTEND has announced that the company's senior executives will participate in the opening ceremony and ring the opening bell on the NYSE September 8.
In the announcement the company recalls that it was founded as a gaming company based on drone technologies, but Israel’s reality changed its course. "When incendiary balloons from Gaza began to threaten the villages and fields around the Gaza Strip, the founders realized that the technology they had developed could do much more than a game - it could provide an immediate response to challenges that endanger human lives. From this concept, XTEND grew into a global Physical AI company, and what started as gaming technology became technology designed to protect human lives, as the company turned its capabilities to the world of defense," the announcement recounts.
According to XTEND, the technological principle behind it is to expand the human range of action without exposing the person themselves to danger, and the system it developed operates an autonomous robotic workforce in dangerous and complex environments. The company notes that it has proven global operations, with over 12,500 systems manufactured and deployed in more than 30 countries and five combat zones worldwide.
XTEND’s merger and becoming a publicly-traded company has also been supported by an investment of $152 million, and as previously announced among the investors is Eric Trump, son of US President Donald Trump. The funds raised will be used to continue investing in XTEND’s global manufacturing and product development, with the aim, it says, of meeting the growing demand from customers around the world.
Aviv Shapira said, "This is an exciting and formative moment for XTEND and especially for the people who built it and believed in our path from the very beginning. Becoming a publicly-traded company is a significant milestone in a journey that began less than a decade ago in Israel, and it allows us to accelerate growth, continue to push the boundaries of technology, and bring our systems to more people, organizations, and missions around the world. Our systems were born from a reality where humans are required to enter dangerous and complex environments every day, and from the understanding that technology can and should change this equation. For us, autonomy is not about replacing humans, but about expanding their ability to act while reducing their exposure to danger. As a publicly-traded company, we now have a greater opportunity and responsibility to take this vision forward - to build the next generation of Physical AI and use it to make the world safer."
Published by Globes, Israel business news - en.globes.co.il - on September 1, 2026.
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