SWAPP

May 18, 2023

Jewish Business News By SWAPP founders (from website) Spinframe , an Israeli startup that offers AI enabled tech for vehicle inspections, raised $8 million in financing led by Israel’s global shipping company Zim. And fellow Israeli startup SWAPP , which develops automation software for architectural construction documents, raised $11.5 million in a Series A funding round led by Eurazeo, a global investment firm. Founded in 2019 by three veteran entrepreneurs who sold their last venture to Autodesk, SWAPP boasts that its platform automates the most cumbersome and error-prone architectural planning phase: the production of construction documents (CD). SWAPP clients, says the firm, benefit from completing multiple projects simultaneously at a high speed and focusing more on creative planning and less on tedious repetitive manual labor. SWAPP applies “intelligent, advanced algorithms to deliver accurate, detailed, and complete Architectural construction documents and BIM models faster than ever before.” Please help us out : Will you offer us a hand? Every gift, regardless of size, fuels our future. Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone. Thank you. “The product we developed at SWAPP tackles the unfairness I faced as an architect on a daily basis – the excessive amount of time spent on creating intricate plans, rather than concentrating on the design aspect, and the lack of compensation for the many hours I spent on each project,” said Eitan Tsarfati, Co-founder and CEO of SWAPP. “Our main goal is to help our customers become more productive from the moment they start using our platform.” Founded in 2017, Spinframe Technologies provide a single source of truth for the status of vehicles at every checkpoint. The company boasts it delivers a real-time, AI-enabled platform for vehicle damage detection, inspection, and documentation. The fully automatic, plug & play stations are deployable at every gateway and detect up to the smallest damages in real-time, such as scratches, dents, and scuffs. Spinframe’s monitoring platform has already been implemented at a wide range of customers within the automotive industry, including prominent automotive OEMs, such as Volkswagen, car rental companies and dealerships. 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.” In this article: