Israeli robotics company BionicHive has filed for liquidation in the Be’er Sheva District Court due to debts of approximately 66 million Israeli shekels (around US$18.1 million).

The court has approved the request, which includes a stay of proceedings and the appointment of a temporary trustee.

BionicHive attributes its financial decline to the ongoing “Swords of Iron” conflict, referring to its ongoing conflict with Hamas.

The company owes 65 million shekels (around US$17.8 million) to investors and 70,000 shekels (around US$19,200) to employees, with a trustee hearing scheduled on Monday.