Spinframe aims to sell its tech to ports, car-rentals and more
By Doreen Hemlock
An Israeli company that makes AI-powered camera systems to scan vehicles at ports, factories, car-rentals and other locations is entering the US market and selected Miami as its US headquarters.
Spinframe CEO Ori Dangur said he opened his company’s Miami operation in October, lured by the warm weather (similar to Israel’s) and by Miami’s role both as a tech and trade hub, among major factors.
“We’re looking to engage in the US first with port operators and auto-dealer networks,” said Dangur.
Based in Israel’s Yokne’am Illit, Spinframe launched in 2017 and now employs some 30 people. Last year, it raised $8 million from an investor group led by Zim Integrated Shipping Services and including Sarona Partners and Singularity Capital. Its total capital-raise tops $10 million to date.
The venture uses a mix of closed-circuit TV cameras, machine-learning and other tools to create “Digital Twin” scans of vehicles and detect anomalies in new scans, working across the supply-chain, from the assembly line to ports, dealerships to the end-consumer. Its technology now is used in Israel, Germany, Italy, the United Kingdom, Spain, Italy and Australia, with Volkswagen Group among its clients, said Dangur.
Spinframe showcased its offerings at the inaugural Miami Tech & Invest conference, organized in mid-November by Israel’s largest financial newspaper, Calcalist, and by Israel’s largest banking group, Leumi. Dangur told participants that the market for his technology is huge: more than 500 vehicles are visually inspected every second worldwide, adding up to 20 billion-plus inspections yearly. Inspections include everything from cars produced at factories to those returned at car-rentals. He says Spinframe can inspect vehicle up to 19 times faster than traditional, visual inspectors do – and with greater accuracy.
Growing Miami ties with “Startup Nation” Israel
The new Israeli entrant illustrates deepening tech ties between South Florida and Israel, the small Middle Eastern country often dubbed “Startup Nation.” Israel is known as home to the highest concentration of tech ventures outside California’s Silicon Valley, spanning areas as diverse as agriculture, medical devices and cybersecurity. Those ventures typically look overseas to grow, because of the limited size of Israel’s domestic market: just 10 million people in an area the size of New Jersey. The US, as the world’s largest market, shines as a top target for growth, with South Florida increasingly a favored entry spot, because of Miami’s role as a tech hub and a gateway to Latin America. Israelis also feel comfortable in greater Miami because of the weather and well-established Jewish community.
Florida now hosts at least 50 Israeli companies in tech and diverse industries, which together employ more than 2,500 people in the state, according to Select Florida, the state’s economic development agency. Those companies include lots of tech ventures set up in greater Miami, from medical device maker Insightec to hospitality-software maker Tabit Technologies and website maker Wix.com.
Also new to Miami tech community: Israel’s Waltz, which offers a platform to help foreign investors buy US properties and has raised at least $24 million to date, according to a RefreshMiami.com profile published in July. Waltz also presented at the Calcalist Miami Tech & Invest conference.
Helping digitize the supply chain
Dangur said Spinframe’s technology differs from most by using off-the-shelf CCTV cameras, which lower costs. It’s also quicker, often taking just seven seconds to scan a vehicle, stream images to the cloud, compare them with a “Digital Twin” and send the results to the client, he said.
“When it comes to car rentals, it’s important to respond very fast to ease check-ins and check-outs for drivers,” said Dangur. For its services, the company uses a subscription model, offering prices that vary based on usage. “Ports can have very high volumes, sometimes scanning 6,000 vehicles a day.”
Israel’s Zim shipping has said it backed Spinframe “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.”
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