rewrite this title and make it good for SEOSIXAI investors sue after IAI venture fails to take off

SixAI investors have filed a lawsuit for NIS 50 million against the estate of the company’s founder, the late Ran Poliakine, his partner Moshe Dan Azogui and the company itself. They claim that the two raised millions of dollars based on presentations about a partnership with Israel Aerospace Industries (IAI), which was never approved by the Government Companies Authority.

The presentations also included the Japanese robotics company Musashi Seimitsu, a subsidiary of Honda, and a Tier 1 supplier of parts for the automotive industry located in Japan, and Srulik Einhorn’s marketing company Perception, which are not defendants in the proceedings. IAI is not a defendant in the proceedings either.

The venture didn’t take off

The investors claim they were persuaded to invest based on “bombastic” and “extremely rosy” presentations, which contained inflated projections for the company’s valuation and huge fundraising, using partnerships with IAI and Musashi Seimitsu as an anchor. Among other things, projections were presented for raising $300 million at the end of 2022 at a valuation of $1 billion, and an IPO at the end of 2023 at a valuation of $3-5 billion.

In addition, according to the plaintiffs, Poliakine and the company hid from them the fact that he was terminally ill, which he had known since 2021, and the fact that he had used the company’s funds to finance his medical treatment. This conduct, according to them, led to the collapse of the company, the dismissal of most of its employees, and the loss of their investment.

It should be noted that in 2021, IAI announced the establishment of a technology commercialization partnership with SIXAI, although it had not yet been decided at that time which technologies would be commercialized as part of the partnership. IAI even issued an official press release, in which CEO Boaz Levy was quoted as saying: “The establishment of the partnership is an expression of the implementation of IAI’s new business strategy to leverage the company’s technological capabilities in the civilian sector.”

Poliakine recruited former Israel Postal Co. chairman Sasi Shilo, who is not being sued in this lawsuit, a senior figure with experience in managing publicly-traded companies, in order to promote the partnership with IAI – a connection formed at the YPO CEO forum. For two years, Shilo and IAI executives tried to promote technology commercialization projects, including radar for trains in India and joint ventures in the drone field. Eventually, the venture was canceled after the then Government Companies Authority chief Michal Rosenbaum, did not approve the establishment of the partnership.

Sasi Shilo was appointed deputy CEO on a huge salary (according to the lawsuit), a position that the plaintiffs claim was intended to manage the failed partnership with IAI. The plaintiffs claim that Shilo continued to receive payment until the end of 2023, 18 months after the project was canceled, and even managed the construction of Poliakine’s private home.

Shilo denied the allegations and responded: “I joined SIXAI due to my extensive experience as CEO and chairman of Israel Postal Co. Throughout my work, I was involved in identifying ventures, and I also served as CEO of SIXEV, where I led business development for an electric motor scooter venture in Africa and promoted pilots in Ghana and Nigeria.”

The electric motor scooter venture managed by Shilo planned to combine Musashi Seimitsu engines with batteries that would be replaced at designated stations. Despite initial agreements in India and pilots in Nigeria and Ghana, the venture did not succeed. According to the lawsuit, Musashi Seimitsu, which is managed by Hiroshi Otsuka, invested $10 million in Poliakine’s company, which went down the drain.

The collapse – and the reactions

In a presentation given to SIXAI investors, the name of Srulik Einhorn, owner of the marketing company Perception, was listed as VP Marketing. Einhorn, a well-known political strategist associated with the Likud and campaigns for Prime Minister Benjamin Netanyahu, actually provided external consulting services (such as building a website, filming videos, and copywriting) in exchange for cash and shares.

Perception also worked for years with Poliakine’s Nanox company, and the relationship ended in 2024. According to the plaintiffs, between 2020 and 2023 they invested about NIS 50 million based on presentations by Poliakine and the company. However, in January 2024 they unexpectedly learned of Poliakine’s death from an illness, a fact that was never disclosed to them during the investment process. A month later, it became clear that the company’s coffers had been emptied, most of the employees had been laid off (except for Poliakine’s personal assistant), and a significant number of the subsidiaries had been closed. “Almost nothing remained of all the dreams that were sold to the plaintiffs,” the lawsuit states. The defendants, including the estate of Poliakine and founder Moshe Dan Azogui are expected to file a defense in the coming weeks.

Adv. Dr. Gil Orion, partner and head of the litigation department at the Fischer (FBC) law firm, who represents Moshe Dan Azogui, said, “The lawsuit is riddled with errors” and that the claims against Sasi Shilo are “unfounded.”

Adv. Alon Pomerantz of the Lipa law firm, who represents the heirs of the late Poliakine, said: “The claims made in the lawsuit, which are based on false claims, are baseless, and present the facts in a distorted and misleading manner.” He also stressed that the decisions were made “for factual and professional reasons,” and that there are at play “personal motives” against a person who has passed away and cannot respond to the claims. The heirs added that the claims “unnecessarily harm Poliakine’s widow and children.”

No response has been forthcoming from IAI and Musashi Seimitsu.

Published by Globes, Israel business news – en.globes.co.il – on June 2, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.