Star Announces new investment!

“We found great potential for Spinframe technology and its applicability to our industry,” said Eli Glickman, President and CEO of Star Line.

On May 17, Israel Star Line announced that it has completed an $8 million investment in Israeli AI startup Spinframe with other investors.

 

Esstar said it was leading the investment as part of its digital strategy.

 

Spinframe develops vehicle detection systems based on artificial intelligence (AI), computer vision and machine learning technologies, which are capable of creating “digital twins” for vehicles throughout the supply chain and detecting anomalies along the supply chain, according to the company.

 

Spinframe’s innovative system records vehicle conditions in detail and uses AI technology to quickly identify system defects and external damage.

 

The system can monitor large numbers of vehicles at different locations, including ports, transportation and logistics hubs, parking lots, agencies, rental outlets and service centers, without human intervention. It can also realize vehicle visualization and state sharing through advanced image processing and data cloud storage and other advantages.

 

Currently, Spinframe monitoring system has been widely used in the automotive industry, including customers such as Volkswagen.

 

Spinframe said it will use the funds from the new investment to develop new features for the platform, particularly in the automotive maritime transportation sector. Spinframe has won a tender for the Israeli port of Ashdod to use its products to monitor the loading and unloading of cars at the port.

 

Eli Glickman, President and CEO of Star Line, said, “We found great potential for Spinframe technology and its applicability to our industry. As part of our corporate strategy, we actively seek out and invest in promising start-ups to serve as growth engines for Exing.”

 

Eli Glickman further described the investment as another successful collaboration between esstar and startups specializing in digital automation solutions.

 

Ori Dangur, Spinframe’s CEO, said, “We believe Spinframe’s unique all-round solution has the potential to significantly improve the automotive supply chain. We are confident that with the trust of our investors and cooperation with companies such as Estar, we will continue to realize the potential of our technology.”