ISRAEL'S zim Integrated Shipping Services Ltd (ZIM), along with other investors, has announced the initial closing of a US$8 million financing round in vehicle monitoring platform, Spinframe.
ZIM led this investment as part of its strategy to invest in early-stage companies involved in the digitalization of supply chains, according to London's Port Technology.
Spinframe develops vehicle-inspection systems based on artificial intelligence (AI), computer vision, and machine-learning technologies, that create 'Digital Twins' for vehicles throughout the supply chain and detect anomalies from the assembly line throughout the vehicle journey to the dealership and end customer.
Spinframe's innovative system documents vehicles and uses AI to identify defects and external damage.
The platform is capable of overseeing a large number of vehicles without human intervention in various locations, such as seaports, transportation and logistics hubs, parking lots, agencies, rental branches, and service centres.
The combination of advanced image processing, damage classification, and data cloud storage allows for immediate vehicle visualization and status sharing at any stage, via a unified interface.
The investment funds will be utilized by Spinframe to develop new and unique capabilities of Spinframe's platform, as well as to deliver a robust pipeline to implement solutions with new customers globally.
Eli Glickman, ZIM president & CEO, said: 'After conducting successful PoCs, we have identified the immense potential of Spinframe's 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 growth engines.
'This investment represents another successful partnership with a startup that specializes in digital automation solutions for the benefit of our customers,' Mr Glickman added.
SeaNews Turkey
ZIM led this investment as part of its strategy to invest in early-stage companies involved in the digitalization of supply chains, according to London's Port Technology.
Spinframe develops vehicle-inspection systems based on artificial intelligence (AI), computer vision, and machine-learning technologies, that create 'Digital Twins' for vehicles throughout the supply chain and detect anomalies from the assembly line throughout the vehicle journey to the dealership and end customer.
Spinframe's innovative system documents vehicles and uses AI to identify defects and external damage.
The platform is capable of overseeing a large number of vehicles without human intervention in various locations, such as seaports, transportation and logistics hubs, parking lots, agencies, rental branches, and service centres.
The combination of advanced image processing, damage classification, and data cloud storage allows for immediate vehicle visualization and status sharing at any stage, via a unified interface.
The investment funds will be utilized by Spinframe to develop new and unique capabilities of Spinframe's platform, as well as to deliver a robust pipeline to implement solutions with new customers globally.
Eli Glickman, ZIM president & CEO, said: 'After conducting successful PoCs, we have identified the immense potential of Spinframe's 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 growth engines.
'This investment represents another successful partnership with a startup that specializes in digital automation solutions for the benefit of our customers,' Mr Glickman added.
SeaNews Turkey