Aeterlink Corp., a Japanese company, has bought the assets of CoreTigo, an Israeli startup that made wireless communication systems for factory machines, for $350,000. Israel's Central District Court approved the sale the week before Calcalist and its English-language site CTech reported it on October 27, 2026.
The deal covers all of CoreTigo's assets, technology and intellectual property, including its patents and patent applications, and the company's goodwill. CoreTigo has been in liquidation since February 2026, and the sale was run by its court-appointed trustee, attorney Gil Efrati.
The proceeds go to CoreTigo's creditors. The price is a small fraction of the roughly $45 million the company raised from strategic and financial investors over its life, according to Calcalist.
What CoreTigo built
CoreTigo was founded in 2017 to build products on IO-Link Wireless, a standard for connecting a machine's controller to its sensors, motors and robotic arms without cables. Its systems were used in factory automation, packaging machinery and parcel-sorting equipment, according to CTech and Geektime.
Geektime reported that the technology was designed to work over a range of about 20 metres with a response time of around 5 milliseconds, aimed at production lines where cables limit how machines can be built and moved.
The company was founded by Eran Zigman, Dan Wolberg and Ofer Blonsky, who had previously worked at Texas Instruments and Apple, Techtime reported in 2023. Zigman served as chief executive. Pulse 2.0 described the company as Tel Aviv-based when it raised its Series A in 2019.
“We are pleased that, following more than six months of negotiations, the court has approved the deal.”
The investors and the funding
CoreTigo raised a $10 million Series A in early 2019, led by Qualcomm Ventures and Sierra Ventures, with Magma Venture Partners, Cardumen Capital and Meron Capital also taking part, Pulse 2.0 reported.
In July 2023 it raised an $18 million B1 round that Amazon joined, alongside the investment arms of Qualcomm, Verizon and Emerson Electric, according to Techtime.
Calcalist put the company's total funding at about $45 million and named Amazon, Qualcomm, Verizon and Lenovo among its backers, along with the Israeli investment house Meitav Dash.
How the company collapsed
CoreTigo depended heavily on a single customer, a German sensor maker that accounted for about half of its revenue. Geektime identified that customer as SICK. When Germany's car industry went into a downturn in 2025, the customer repeatedly pushed back its orders.
Geektime reported that CoreTigo had cut its headcount from 60 to 24 and halved its operating expenses in 2025, and that orders had risen 60% that year, but it could not make up for the delays. In December 2025 the company said it could no longer meet its obligations.
By January 2026 it could not pay suppliers, employees or landlords and asked the Central District Court to open insolvency proceedings. In February, Judge Hana Kitzis ordered the company liquidated and appointed Efrati as trustee.
A six-month search for a buyer
An open call for bids produced no serious offers, CTech reported. One inquiry from a German party was later withdrawn, and the trustee received several low offers for CoreTigo's inventory alone. Geektime reported in March that efforts to find a buyer for the technology had not yet succeeded.
Efrati then negotiated directly with Aeterlink for about six months. He said selling the company's assets as a whole brought in much more for creditors than the partial offers would have. "We are pleased that, following more than six months of negotiations, the court has approved the deal," he said, according to CTech. He also thanked the Israel Innovation Authority, which supported the sale and gave its consent.
Attorney Ofir Ronen, who represents CoreTigo's former employees, welcomed the deal. He said he would work to get them the remaining amounts they are owed, up to the legal priority ceiling of NIS 134,966 (about $36,000), after they receive final payments from Israel's National Insurance Institute.
Aeterlink has not said publicly what it plans to do with CoreTigo's technology, and the reports did not say whether any former employees will join the Japanese company.
