AI vehicle inspection startup Spinframe has secured $8 million in a funding round led by ZIM Integrated Shipping Services Ltd. (NYSE: ZIM). ZIM's investment stems from its strategy to back early-stage digital supply chain companies with high growth potential.
Spinframe's technology uses artificial intelligence, computer vision, and machine learning to inspect vehicles. Its system creates "Digital Twins" of vehicles and detects anomalies, starting from assembly line production to the dealership and end customer. The AI-driven platform operates independently, capable of inspecting numerous vehicles across various locations such as seaports, logistics hubs, parking lots, and more.
The technology has been adopted by key players in the automotive industry, including Volkswagen, car rental companies, and dealerships. The funding will further develop Spinframe's platform capabilities and support implementation with new global customers. Spinframe aims to expand its operations, specifically in the vehicle maritime transport segment.
Spinframe's distinguishing feature is its creation of a "Digital Twin" for each vehicle, providing comprehensive documentation and defect detection at all stages of the supply chain.
Spinframe joins two more Israeli AI startups, UVeye ($800 million valuation) and Ravin AI, that announced funding rounds in the last weeks, reflecting a recent surge in investor bets in the space.
