ZIM Integrated Shipping Services Ltd. (ZIM) has closed a near $5 million Series B financing round in Sodyo Ltd. (Sodyo) to bolster the use of smart solutions across the supply chain.
Sodyo develops scanning technology to create functional offline to online (O2O) solutions, allowing businesses to access information and understand their workflows and enable online interaction with customers.
According to ZIM, this investment is intended to further develop Sodyo’s technology and expand its implementation, including ZIMARK’s, a Sodyo-ZIM joint venture, applying Sodyo’s scanning technology to the logistics sector and supply chain processes.
“Sodyo continues to make important progress in developing its revolutionary scanning technology,” said Eli Glickman, President and CEO of ZIM.
“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 startup ecosystem in Israel to identify other attractive innovative technologies and companies, complementary to ZIM’s core business, that can serve as growth engines for ZIM.”
“We are proud to have ZIM as a strategic partner and once again win their vote of confidence,” added Alon Raz, CEO of Sodyo.
“ZIM’s global network and business expertise in verticals Sodyo is currently focused on, has already had a tremendous impact, and with this additional investment, we will be able to step up our efforts in making Sodyo’s groundbreaking scanning technology a worldwide standard.”
The deal represents the first major equity investment in DSG, who will use capital to bolster the development of its e-volve AI governance and decisioning management system, as well as expanding its operations and presence around the globe.