ZIM looks for and invests in promising young companies as its growth engine
Recently, the Israeli artificial intelligence start-up company-Spinframe completed the first round of 8 million US dollars of financing, it is worth noting that the shipping company to star shipping ZIM is also one of the investors.
Yixing said the investment Spinframe is part of its investment strategy, which aims to invest in early stage companies participating in supply chain digitization, which provide new cutting-edge services with high growth potential.
Spinframe develop vehicle inspection systems based on artificial intelligence (AI), computer vision, and machine learning technologies to create "digital twins" for vehicles throughout the supply chain and detect anomalies in the entire process, from the assembly line to the dealer and end customer.
Spinframe's innovative system logs vehicles in detail and uses artificial intelligence to quickly identify defects and external damage. The platform is able to supervise a large number of vehicles in different locations such as seaports, transport and logistics centers, parking lots, agencies, rental branches and service centers without human intervention. The combination of advanced image processing, damage classification and data cloud storage allows for immediate vehicle visualization and status sharing at any stage through a unified interface.
Spinframe monitoring platform has been in the automotive industry in a wide range of customers, including some famous automotive original equipment manufacturers, car rental companies and dealers.
Spinframe will use the investment funds to develop new and unique features of the Spinframe platform and to provide global new customers with powerful solutions, the company aims to expand its activities in the entire vehicle maritime sector.
Separately, Spinframe recently won the Ashdod Port tender and will now use its products to monitor the port's vehicle disembarkation.
Eli Glickman, President and CEO of ZIM, said: "After a successful poc, we have identified the great potential of Spinframe technology and its applicability to our industry. As part of our overall approach and strategy, we actively seek out and invest in promising young companies as engines of growth. This investment represents another successful partnership with a startup that specializes in providing digital automation solutions to customers. We are proud to support and help promising companies thrive and realize their full potential."
Ori Dangur, Chief Executive Officer of Spinframe, said: "The Spinframe has grown significantly over the past year and we are pleased to see that customers are confident in our technology. We believe that our unique comprehensive solution has the potential to significantly improve the automotive supply chain, and our ability to execute our strategy is greatly enhanced through our partnership with Estar. We believe that with the trust of investors and the cooperation of Yixing, we will continue to develop and realize the potential of our technology."
About Spinframe
Spinframe is an Israeli AI startup founded in 2020.
Spinframe developed a vehicle inspection system based on artificial intelligence, computer vision and machine learning that can monitor and detect anomalies throughout the supply chain, from the assembly line to the dealer to the end customer. The company is based in Yokneam and operates in several countries around the world.
Source: one shipping