HAIFA,
Israel, May 17, 2023 /PRNewswire/ -- ZIM
Integrated Shipping Services Ltd. (NYSE: ZIM), along with other
investors, announced the initial closing of an $8 million
financing round in Spinframe. ZIM led this investment as part of
its strategy to invest in early-stage companies involved in the
digitalization of supply chains who offer novel cutting-edge
services with high growth potential.
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 exhaustively documents vehicles
and uses AI to quickly 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 centers. 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.
Spinframe's monitoring platform has already been implemented at
a wide range of customers within the automotive industry, including
prominent automotive OEMs, such as Volkswagen, car rental companies
and dealerships.
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. In particular, the company aims to expand its activities
throughout the vehicle maritime transport segment. Recently,
Spinframe won an Ashdod Port tender, which will now use its
offering to monitor vehicle disembarkment at the port.
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. We take
pride in supporting and enabling promising companies to flourish
and achieve their full potential."
Ori Dangur, Spinframe's CEO, said: "This past year,
Spinframe has grown significantly, and we are happy to see
customers' conviction in our technology. We believe that our unique
all-encompassing solutions have the potential to significantly
improve the automotive supply chain and through our collaboration
with ZIM, our ability to execute our strategy has been greatly
enhanced. We are confident that with our investors' trust and ZIM's
cooperation, we will continue to grow and deliver on the potential
our technology holds."
Forward-Looking Statements
The following information
contains, or may be deemed to contain forward-looking statements
(as defined in the U.S. Private Securities Litigation Reform Act of
1995). In some cases, you can identify these statements by
forward-looking words such as "may," "might," "will," "should,"
"expect," "plan," "anticipate," "believe," "estimate," "predict,"
"potential" or "continue," the negative of these terms and other
comparable terminology. These forward-looking statements, which are
subject to risks, uncertainties and assumptions about the Company,
may include projections of the Company's future financial results,
its anticipated growth strategies and anticipated trends in its
business. These statements are only predictions based on the
Company's current expectations and projections about future events
or results. There are important factors that could cause the
Company's actual results, level of activity, performance or
achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements. Factors that could cause such
differences include, but are not limited to: market changes in
freight, bunker, charter and other rates or prices, supply-demand
fluctuations in the containerized shipping market, new legislation
or regulation affecting the Company's operations, new competition
and changes in the competitive environment, the outcome of legal
proceedings to which the Company is a party, global, regional
and/or local political instability, inflation rate fluctuations,
capital markets fluctuations and other risks and uncertainties
detailed from time to time in the Company's filings with the U.S.
Securities and Exchange Commission (SEC), including under the
caption "Risk Factors" in its 2022 Annual Report filed with the SEC
on March 13, 2023.
Although the Company believes the expectations reflected in the
forward-looking statements contained herein are reasonable, it
cannot guarantee future results, level of activity, performance or
achievements. Moreover, neither the Company nor any other person
assumes responsibility for the accuracy and completeness of any of
these forward-looking statements. The Company assumes no duty to
update any of these forward-looking statements after the date
hereof to conform its prior statements to actual results or revised
expectations, except as otherwise required by law.
About ZIM
Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading
global container liner shipping company with established operations
in more than 90 countries serving approximately 34,000 customers in
over 300 ports worldwide. ZIM leverages digital strategies and a
commitment to ESG values to provide customers with innovative
seaborne transportation and logistics services and exceptional
customer experience. ZIM's differentiated global-niche strategy,
based on agile fleet management and deployment, covers major trade
routes with a focus on select markets where the company holds
competitive advantages. Additional information about ZIM is
available at www.ZIM.com.
About Spinframe
Spinframe is an artificial
intelligence Israeli startup founded in 2020. Spinframe develops
AI, computer vision, and machine-learning-based vehicle-inspection
systems that monitor and detect anomalies throughout supply chains,
from assembly line to dealership to end customer. The company is
located in Yokneam and operates in several countries worldwide. For
more information: https://spinframe.com
ZIM Contacts
Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
shats.avner@zim.com
Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana@zim.com
Leon Berman
The IGB Group
212-477-8438
lberman@igbir.com
Spinframe Contacts
Ori Dangur, CEO
Spinframe
+972-54-665-0917
ori@spinframe.co.il
Tomer Shwarzberg, VP of Sales
Spinframe
+972-52-324-6664
tomers@spinframe.co.il
PR:
Ofek Shaki
Leibovich Media & Strategy
+972-2-622-4881
Ofek@ylms.co.il
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SOURCE Zim Integrated Shipping Services Ltd.