IT Services Provider GalilCS to Shut Down

GalilCS, an IT services provider based in Israel, is preparing to lay off all 70 of its workers and file for liquidation, people familiar with the matter told Calcalist.

The five-year-old company is controlled by Shamir, a kibbutz town in Israel’s northern Galilee region, which is known more for its agricultural output than for its tech industry.

After having raised at least $9 million through its history, GalilCS failed to raise enough new investment in order to expand and stay competitive.