Zim Integrated Shipping Services Ltd (Zim) has confirmed a US$5 million spend of Series B financing in Sodyo Ltd (Sodyo) to support use of smart solutions across the supply chain.
Sodyo is a specialist in developing scanning technology to create function offline to online (O2O) solutions, which in turn allows users to gain access to information that enables a better understanding of workflows and facilitates online interaction with customers.
Zim has confirmed that the investment it is making will support the further development and expansion of Sodyo technology, while also aiding implementation. Part of the planned process is to support a Sodyo-Zim joint venture that applies Sodyo’s scanning capability to the logistics sector and supply chain activities.
Eli Glickman, President and CEO of Zim underlines: “Sodyo continues to make important progress in developing its revolutionary scanning technology. Under the leadership teams at Sodyo and ZIMARK, the two companies have executed a number of successful POCs that demonstrate the potential this technology has to become the new global standard for scanning technology – with business uses and applications in various industries. We will continue to leverage our position within the start-up ecosystem in Israel to identify other attractive innovative technologies and companies, complementary to ZIM’s core business, which can serve as growth engines for ZIM.”
At the same time, Zim has also confirmed participation, to the sum of US$5.5 million, in the first round of venture capital financing in Hoopo Systems Ltd.
Hoopo specialises in transforming unpowered assets into connected fleets, enabling better monitoring and managing of operations, inventory and equipment through real-time data and analytics across logistics operations, including transportation and shipping.
These latest developments follow a similar US$6 million investment, in June 2022, in Data Science Consulting Group (DSG) an Israeli-based organisation that specialises in artificial intelligence (AI) products and services.
As a result of Zim’s support, the first major equity investment in DSG, the company is able to further develop its e-volve AI governance and decision-making management system.
