Israeli startup Spinframe has secured $8 million in a recent investment round, led by shipping giant Zim, as reported by C-Tech. Other investors, including Sharona Partners and Singularity Capital, also participated in the round. Spinframe, established in 2020 by Ori Dangur, operates with a team of 12 employees based in Yokneam. With this funding, the company’s total raised capital now amounts to $10 million.
‘Digital Twins’ in supply chain
Spinframe is an Israeli startup that specializes in developing vehicle inspection systems using AI, computer vision, and machine learning. Their technology creates “Digital Twins” for vehicles throughout the supply chain, detecting anomalies from the assembly line to the end customer. Recently, Spinframe raised $8 million in an investment round led by Zim, along with participation from Sharona Partners and Singularity Capital. The company has raised a total of $10 million to date. Spinframe’s platform utilizes AI to quickly identify defects and external damage, allowing for efficient monitoring of vehicles without human intervention. Their system has been implemented by prominent automotive OEMs like Volkswagen, car rental companies, and dealerships. The sector has seen increased interest, with another Israeli company, UVeye, raising $100 million for its vehicle scanning system just a week prior.
Eli Glickman, ZIM President and 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.”
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Source: C-Tech
