Adani Global picks minority stake in Israeli robotics firm for $20 mn

Adani Global Limited, Mauritius, a wholly-owned subsidiary of the company, picked a minority stake in Israeli robotics company ForSight Robotics. The minority stake was picked for $20 million. 

The company said, “The acquisition is in furtherance of the strategic objectives of the Adani Enterprises Limited to undertake investments which provide synergistic benefits to the existing businesses of the Adani Group.”

Incorporated in April, 2020, ForSight is focussed on medical technology. It had NIL turnover for the financial years ending December 31, 2020 and December 31, 2021. 

ForSight aims to transform eye care by delivering high-precision, and cost-effective ophthalmic surgery. The platform aims to automate the complex subtleties of ophthalmic surgery with an intuitive system that tackles problems of preventable blindness and visual impairment.

Dr Daniel Glozman, a PhD in mechanical engineering, who has specialised in robotics for medical applications for over 20 years, is the co-founder and CEO of ForSight, while Dr Joseph Nathan, MSc in Industrial Engineering and an MD, and Professor Moshe Shoham, DSc in Mechanical Engineering are the co-founders and Chief Business Officer (CBO) and Chief Scientific Officer (CSO) respectively.

The company had raised a $10-million seed round, led by Eclipse Ventures and Mithril Capital, in March 2021. 

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