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

Core Viewpoint - Xylo Technologies Ltd. announced a partnership between its affiliate ParaZero Technologies Ltd. and a leading Tier 1 defense OEM to adapt drone safety systems for military and medical missions, aiming to enhance the efficiency and safety of medical deliveries in critical areas [1][2][3]. Group 1: Partnership and Collaboration - ParaZero will provide 50 systems for testing to the customer, with plans for additional hundreds of systems for a pilot program upon successful testing completion by the end of 2024 [2]. - The collaboration aims to develop a scalable and cost-effective mass production system for medical deliveries, ensuring they are safer, faster, and more reliable [2][3]. Group 2: Company Background - ParaZero Technologies is a leading developer of autonomous parachute safety systems for commercial and military applications, founded in 2014 by aviation professionals and drone industry veterans [4]. - Xylo Technologies focuses on innovative growth partnerships in advanced medical solutions, digital commerce, and electric vehicle markets, with various affiliates including ParaZero [5].