Xylo Technologies: ParaZero Received Order from a Leading Tier-One Defense Company for 50 Drone Safety Systems

TEL AVIV, Israel, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Xylo Technologies Ltd. (Nasdaq: XYLO) (“Xylo” or the “Company”), a technology-based company engaged in advanced innovative technologies, announced today that ParaZero Technologies Ltd. (Nasdaq: PRZO) ( “ParaZero”), an aerospace company focused on drone safety systems for defense and commercial drones and urban air mobility aircraft (18.68% owned by Xylo), initiated a partnership with a leading Tier 1 defense OEM company to adapt and integrate its advanced drone safety system for operational military and medical mission use. ParaZero received an initial order as part of a wider collaboration that aims to enhance the efficiency and safety of medical field mission’s deliveries, particularly in critical and remote areas.

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