Israeli ocean carrier ZIM, along with other investors, announced the initial closing of a US$8 million financing round in Spinframe.
In particular, ZIM led this investment as part of its strategy to invest in early-stage companies involved in the digitalisation of supply chains.
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.
More specifically, 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 centers.
By that, the combination of advanced image processing, damage classification, and data cloud storage allows for immediate vehicle visualisation and status sharing at any stage, via a unified interface.
Additionally, Spinframe’s monitoring platform has already been implemented at a wide range of customers within the automotive industry.
Eli Glickman, ZIM president and CEO, commented, “After conducting successful PoCs, we have identified the immense potential of Spinframe’s technology and its applicability to our industry.”
He added, “As part of our overall approach and strategy, we actively seek out and invest in promising young companies as growth engines.”
