ZIM Integrated Shipping Services Ltd., along with other investors, announced the initial closing of an $8 million financing round in Spinframe. The Israeli shipping company said it 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.
Israel-based 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 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 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 range of customers within the automotive industry, including prominent automotive OEMs, such as Volkswagen, car rental companies and dealerships.