After raising $45 million from Amazon and Lenovo — the Israeli startup was dismantled and sold for $350,000
The Central District Court approved the sale of industrial communications startup CoreTigo's assets to a Japanese company for $350,000. The company raised $45 million from Amazon, Qualcomm, and Lenovo, but collapsed due to dependence on a German client hit by the automotive industry crisis.
Last week, the Central District Court approved the sale of all assets, technology, and intellectual property of the Israeli startup CoreTigo to the Japanese company Aeterlink Corp for $350,000. The decision came after the company became insolvent and entered liquidation proceedings earlier this year. CoreTigo was founded in 2017 and developed advanced wireless communication systems for industrial machinery using the IO-Link Wireless standard. Over its years of operation, the company raised a total of approximately $45 million from leading strategic and financial investors, including Amazon, Qualcomm, Verizon, and Lenovo, as well as Israeli financial investors such as Meitav Dash. The financial collapse was primarily due to heavy dependence on a major client, a German sensor manufacturer, which accounted for about 50% of its revenue. Following the crisis in the German automotive industry in 2025, that client repeatedly delayed its orders. The trustee, attorney Gil Efrati, conducted independent negotiations with the Japanese company and succeeded in raising the offer to $350,000. The deal includes the patents, intellectual property rights, technology, and goodwill of the company.