ZIM Integrated Shipping Services has announced that it has made a $6 million investment in Israel-based Data Science Consulting Group (DSG), a technology company specialising in AI (Artificial Intelligence) products and services.
The deal constitutes the first major equity investment in DSG, the companies said. DSG intends to use the new capital to bolster the development of its e-volve AI governance and decision management system, and to expand its operations to additional territories around the globe.
The agreement follows the creation of a joint venture between ZIM and DSG in 2021 to build a centre of excellence for the development of AI tools for the maritime industry.
“The centre of excellence we initiated with DSG is another prime example of a fruitful partnership ZIM has established with an Israeli start-up and the successful development and implementation of AI tools to improve ZIM’s business decisions,” said Eli Glickman, President and CEO of ZIM.
“ZIM’s innovative spirit, demonstrated by, among others, the adoption of various digital tools, has been an important contributor to our industry leading results and, we expect, will continue to drive our success going forward.”
“Having worked closely with the DSG team, we see their capabilities that can support our ecosystem and are pleased to make this investment that will enable them to further grow their business.”