ZIM and Data Science Consulting Group (DSG), a technology company specialising in Artificial Intelligence (AI)-based products, solutions and services, have announced that they have closed a US$6 million Series A financing round.
In this way, ZIM made a capital investment in DSG, which is the first major equity investment in the tech firm.
“There is a growing demand around the world and in our industry for AI-based products and solutions which can improve, among others, supply chain management and the accuracy of forecasting tools,” said Eyal Ben Amram, executive vice president and chief information officer of ZIM.
DSG expects to use the proceeds of this ZIM investment to bolster the development of e-volve, its holistic AI governance and decisioning management system, and to expand its operations and presence around the world.
It is important to note that this investment follows a successful commercial collaboration between the two companies to establish a center of excellence for the development of AI tools for the shipping industry.
“The center of excellence we initiated with DSG is another prime example of a fruitful partnership ZIM has established with an Israeli startup and the successful development and implementation of AI tools to improve ZIM’s business decisions,” said Eli Glickman, president and CEO of ZIM.
“Having worked closely with the DSG team, we see their capabilities that can support our ecosystem and are pleased to make this investment that will enable them to further grow their business,” he added.
Elan Sasson, DSG’s CEO, stated, “The transformation of a customer turned (also) into an investor is an indication of the impact and reward we aspire to deliver to our customers and precisely the type of relationships we aim to foster.”
