SixAI buyers have filed a lawsuit for NIS 50 million towards the property of the corporate’s founder, the late Ran Poliakine, his associate Moshe Dan Azogui and the corporate itself. They declare that the 2 raised thousands and thousands of {dollars} based mostly on displays a few partnership with Israel Aerospace Industries (IAI), which was by no means permitted by the Authorities Firms Authority.
The displays additionally included the Japanese robotics firm Musashi Seimitsu, a subsidiary of Honda, and a Tier 1 provider of elements for the automotive business situated in Japan, and Srulik Einhorn’s advertising and marketing firm Notion, which aren’t defendants within the proceedings. IAI isn’t a defendant within the proceedings both.
The enterprise didn’t take off
The buyers declare they had been persuaded to speculate based mostly on “bombastic” and “extraordinarily rosy” displays, which contained inflated projections for the corporate’s valuation and big fundraising, utilizing partnerships with IAI and Musashi Seimitsu as an anchor. Amongst different issues, projections had been introduced for elevating $300 million on the finish of 2022 at a valuation of $1 billion, and an IPO on the finish of 2023 at a valuation of $3-5 billion.
As well as, in line with the plaintiffs, Poliakine and the corporate hid from them the truth that he was terminally sick, which he had identified since 2021, and the truth that he had used the corporate’s funds to finance his medical remedy. This conduct, in line with them, led to the collapse of the corporate, the dismissal of most of its workers, and the lack of their funding.
It must be famous that in 2021, IAI introduced the institution of a know-how commercialization partnership with SIXAI, though it had not but been determined at the moment which applied sciences can be commercialized as a part of the partnership. IAI even issued an official press launch, through which CEO Boaz Levy was quoted as saying: “The institution of the partnership is an expression of the implementation of IAI’s new enterprise technique to leverage the corporate’s technological capabilities within the civilian sector.”
Poliakine recruited former Israel Postal Co. chairman Sasi Shilo, who isn’t being sued on this lawsuit, a senior determine with expertise in managing publicly-traded corporations, to be able to promote the partnership with IAI – a connection shaped on the YPO CEO discussion board. For 2 years, Shilo and IAI executives tried to advertise know-how commercialization tasks, together with radar for trains in India and joint ventures within the drone discipline. Ultimately, the enterprise was canceled after the then Authorities Firms Authority chief Michal Rosenbaum, didn’t approve the institution of the partnership.
Sasi Shilo was appointed deputy CEO on an enormous wage (in line with the lawsuit), a place that the plaintiffs declare was supposed to handle the failed partnership with IAI. The plaintiffs declare that Shilo continued to obtain cost till the tip of 2023, 18 months after the venture was canceled, and even managed the development of Poliakine’s personal dwelling.
Shilo denied the allegations and responded: “I joined SIXAI as a result of my intensive expertise as CEO and chairman of Israel Postal Co. All through my work, I used to be concerned in figuring out ventures, and I additionally served as CEO of SIXEV, the place I led enterprise growth for an electrical motor scooter enterprise in Africa and promoted pilots in Ghana and Nigeria.”
The electrical motor scooter enterprise managed by Shilo deliberate to mix Musashi Seimitsu engines with batteries that might get replaced at designated stations. Regardless of preliminary agreements in India and pilots in Nigeria and Ghana, the enterprise didn’t succeed. In keeping with the lawsuit, Musashi Seimitsu, which is managed by Hiroshi Otsuka, invested $10 million in Poliakine’s firm, which went down the drain.
The collapse – and the reactions
In a presentation given to SIXAI buyers, the identify of Srulik Einhorn, proprietor of the advertising and marketing firm Notion, was listed as VP Advertising and marketing. Einhorn, a widely known political strategist related to the Likud and campaigns for Prime Minister Benjamin Netanyahu, truly offered exterior consulting providers (equivalent to constructing an internet site, filming movies, and copywriting) in change for money and shares.
Notion additionally labored for years with Poliakine’s Nanox firm, and the connection led to 2024. In keeping with the plaintiffs, between 2020 and 2023 they invested about NIS 50 million based mostly on displays by Poliakine and the corporate. Nonetheless, in January 2024 they unexpectedly discovered of Poliakine’s loss of life from an sickness, a undeniable fact that was by no means disclosed to them through the funding course of. A month later, it grew to become clear that the corporate’s coffers had been emptied, many of the workers had been laid off (aside from Poliakine’s private assistant), and a big variety of the subsidiaries had been closed. “Virtually nothing remained of all of the desires that had been offered to the plaintiffs,” the lawsuit states. The defendants, together with the property of Poliakine and founder Moshe Dan Azogui are anticipated to file a protection within the coming weeks.
Adv. Dr. Gil Orion, associate and head of the litigation division on the Fischer (FBC) legislation agency, who represents Moshe Dan Azogui, mentioned, “The lawsuit is riddled with errors” and that the claims towards Sasi Shilo are “unfounded.”
Adv. Alon Pomerantz of the Lipa legislation agency, who represents the heirs of the late Poliakine, mentioned: “The claims made within the lawsuit, that are based mostly on false claims, are baseless, and current the details in a distorted and deceptive method.” He additionally confused that the selections had been made “for factual {and professional} causes,” and that there are at play “private motives” towards an individual who has handed away and can’t reply to the claims. The heirs added that the claims “unnecessarily hurt Poliakine’s widow and youngsters.”
No response has been forthcoming from IAI and Musashi Seimitsu.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on June 2, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
