Israeli AI company Windward floats on London’s AIM market
Israeli AI company, Windward has listed on the AIM market, valued at more than £126 million.
Windward’s real-time tracking tech is used by corporations including BP, Shell and HSBC to ensure chartered vessels do not violate shipping regulations or international sanctions. Customers also include US defence and homeland security agencies, the EU coastguard and the United Nations.
Fladgate advises Windward, which has so far raised £34.5 million from institutional investors including Hargreave Hale, Gresham House and Premier Miton Investors. Early backers include the Salesforce CEO and internet entrepreneur Marc Benioff. Co-founders Ami Daniel and Matan Peled, both ex-Israeli navy officers, hold 7% stakes.
Funds raised in the IPO will be used to expand its data sources, develop tech and invest in sales and marketing.
The Fladgate team comprised partners Avram Kelman and Nigel Gordon, with associate David Lee, senior associate Orit Rioumine Gold, associate Vicky Bills, paralegal Pui Yan Yuen, and trainee Yelim Jun.
Lead partner Avram Kelman comments: “We are very excited to have advised our technology and AI client Windward on the LSE listing. We have been advising Israeli clients on London listings for over 25 years and we believe that Israeli tech companies will continue to find an excellent home on the London markets.”
Windward, an Israeli company that has developed artificial intelligence-based forecasting technology for the maritime trade industry, was represented by
Yigal Arnon. The team on this transaction included Kobi Ben Chitrit, David Osborne, Liron Hacohen, Shai Margalit and Chaim Cohen.
