Duke Robotics has become a publicly-traded company in the US
12 July, 2020
Duke has developed a combat drone capable of carrying light weapons for counter terrorism missions in urban areas. The move brings Duke closer to the US market
Duke Robotics was merged into the UAS Drone Corp. (OTC: USDR), and is now a publicly-traded company. UAS Drone hasn’t been active, but constitutes a “public shell” that allows Duke Robotics to become an American public company. Duke Robotics was established by veterans of Israeli special forces units, and has developed a light weapons-carrying drone for infantry combat missions in urban areas.
Duke Robotics stated that the goal of the move is to promote the marketing of its combat drone, TIKAD. UAS Drone is traded on the Pink Market, an over-the-counter (OTC) market where penny stocks, low-value shares that trade for less than one dollar per share, are traded. It is subject to oversight by the Securities and Exchange Commission (SEC) and is required to submit periodic reports and report on any cardinal events. Being a public company, Duke will be able to raise capital from investors through the sale of its shares.
A Flying Fighting Robot
Established in 2014, Duke Robotics has developed a flying octocopter (with 8 rotors) combat robot, capable of carrying up to 9kg of light weapons that can be operated remotely via a tablet. The robot is integrated with Six Degrees of Freedom (can move in all three axes of the three-dimensional space) enabling it to perform complex and precise combat missions. According to the company, it meets the challenge of counter terrorism activity in urban areas.
In June 2016, the company’s robot received the 1st place prize at the Counter terrorism Technologies Conference, organized by the American Combating Terrorism Technical Support Office (CTTSO), the Israeli Directorate of Defence Research & Development (DDR&D) and the MIT Enterprise Forum. In 2017 the company reported that it was working closely with the IDF and expected orders from the Ministry of Defense.