The veteran high-tech company Scailium (formerly SQream) has accumulated debts of over 13.6 million shekels ($4.69 million) and on Monday filed an application with the Tel Aviv District Court requesting an order to open proceedings to examine the possibility of economic rehabilitation, along with the appointment of a temporary trustee.
According to the filing, “the applicant company has accumulated losses of over 300 million shekels ($103.45 million) as of 2023, and debts totaling 13.6 million shekels ($4.69 million), and is unable to meet its current and future obligations.”
The request notes that SQream has developed significant technology in the field of AI infrastructure and has raised tens of millions of shekels from investors….